KeyBanc analyst Jeffrey Hammond raised the firm’s price target on Nordson to $270 from $255 and keeps an Overweight rating on the shares. While semiconductor capital equipment names have re-rated substantially over the course of 2023, Nordson has lagged and offers attractive risk/reward ahead of a cycle bounce-back, KeyBanc says. Paired with company-specific catalysts, the firm feels the stage is set for healthy earnings momentum into 2024, and expects multiples to move higher as investors better appreciate the setup.
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Read More on NDSN:
- Nordson management to meet virtually with Loop Capital
- Nordson (NASDAQ:NDSN) Posts Encouraging Q2 Results; Cuts Outlook
- NDSN Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Nordson management to meet with KeyBanc
- Nordson management to meet with DA Davidson
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