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UPDATE: BMO Capital Markets Reiterates Market Perform Rating, Raises PT on IDEX Corporation

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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.

Posted-In: BMO Capital MarketsAnalyst Color Price Target Analyst Ratings

 

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