Standex resumed with an Outperform at William Blair

William Blair analyst Ross Sparenblek resumed coverage of Standex with an Outperform rating. The company has undergone a “remarkable transformation” over the last several years, with the divestiture of lower-margin cyclical businesses and a renewed focus on operational execution, the analyst tells investors in a research note. The firm expects innovation to drive Standex’s narrative, as investors come to appreciate the building pipeline of new products that are set to inflect in fiscal 2024. It views a fair value for Standex in the range of $160 to $185 per share.