Barrington Research Calls Nordson "Buying Opportunity"
Barrington Research is out with a research report on Nordson (NASDAQ: NDSN) and it has a Buy rating and a $45 price target.
In a note to clients, Barrington writes, "Our investment thesis is unchanged following meetings with NDSN's management. We view NDSN as a core holding and are buyers on stock weakness. Modest slowing in the Coatings segment is being offset by continued growth in Advanced Tech and Adhesive segments. No major cancellations have occurred and activity levels remain high. We are maintaining our 2011-2012 EPS forecast, which includes accretion from the Value Plastics deal and our expectation for more macroeconomic slowing. We are maintaining our price target of $45. Our price target equates to a 2012 EV/EBITDA of 8.3x."
At last check, shares of NDSN are up $1.19 to $38.40, a gain of 3.2%.
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