Barrington Research Maintains Outperform Rating and $55 PT on IDEX Corp
A report from Barrington Research reiterates its Outperform rating and $55 price target on IDEX Corp (NYSE: IEX).
The report states, “We reiterate our OUTPERFORM rating prior to the Q3/11 earnings release. We believe that IEX's sales remained strong throughout Q3/11 despite the uncertainty created by the macro factors overhanging the stock market. We believe that IEX will grow 2011 and 2012 EPS in the 12-20% range. We also expect that IEX will be able to maintain a long-term EPS growth rate of at least 12% throughout the industrial cycle, which should support a higher valuation multiple for IEX compared to more cyclical industrial peers”.
IEX closed yesterday at $34.13.
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