Nordson price target raised to $270 from $255 at KeyBanc

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.