UPDATE: BMO Capital Markets Reiterates Market Perform Rating, Raises PT on IDEX Corporation
In a report published Wednesday, BMO Capital Markets reiterated its Market Perform rating on IDEX Corporation (NYSE: IEX), and slightly raised its price target from $43.00 to $44.00.
BMO Capital Markets noted, “IDEX reported 3Q12 adjusted EPS of $0.66, excluding restructuring charges of $0.06. Compared with our model, IDEX reported a slightly lower tax rate, which benefited EPS by $0.01. Adjusting for restructuring charges and a lower tax rate, a comparable EPS is $0.65, slightly above our estimate of $0.64 and the consensus of $0.63. The slightly better-than-expected earnings were a result of higher-than-expected margins in HST and FSD.”
IDEX Corporation closed on Tuesday at $41.50.
Latest Ratings for IEX
|Nov 2015||SunTrust Robinson Humphrey||Initiates Coverage on||Neutral|
|Sep 2015||Bernstein||Initiates Coverage on||Outperform|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.