Market Overview

UPDATE: Stifel Nicolaus Lowers PT to $49 on IDEX Corporation on Uncertainty

Related IEX
Benzinga's Top Upgrades
Earnings Scheduled For July 18, 2016
IDEX declares $0.34 dividend (Seeking Alpha)

Stifel Nicolaus reiterated its Buy rating on IDEX Corporation (NYSE: IEX) and lowered its price target from $51 to $49.

Stifel Nicolaus commented, "The company's core FMT and HST segments have seen increased weakness in their end markets as capital spending and inventories are tightly managed with uncertainty around U.S. elections/fiscal cliff/Chinese leadership change/China economic uncertainty. It is our belief that as these uncertainties abate over the next few months demand will improve somewhat. From a micro level we believe management has done a good job managing to current demand levels and is now reaping the benefits of right sizing CVI's cost structure. IDEX ramped up restructuring activities in the quarter and is beginning to see the benefits of actions taken earlier in the year."

IDEX Corporation closed at $41.50 on Tuesday.

Latest Ratings for IEX

Jul 2016Janney CapitalUpgradesNeutralBuy
Jun 2016Janney CapitalInitiates Coverage onNeutral
May 2016KeyBancInitiates Coverage onSector Weight

View More Analyst Ratings for IEX
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Price Target Intraday Update Analyst Ratings


Related Articles (IEX)

View Comments and Join the Discussion!