Idex Corp. upgraded to Buy from Hold at Stifel

Stifel analyst Nathan Jones upgraded Idex Corp. to Buy from Hold with a price target of $265, up from $215. After a challenging 2023, the analyst sees a return to growth in the second half of 2024 with upside to current guidance from market recovery, margin expansion with typically high incremental margins early in the cycle, and a return to double-digit organic earnings growth in 2025. Idex’s “significant” balance sheet capacity can add meaningfully to long term earnings growth, the analyst tells investors in a research note.