UPDATE: Jefferies Raises PT on IDEX Corporation on 4Q12 EPS
In a report published Wednesday, Jefferies reiterated its Hold rating on IDEX Corporation (NYSE: IEX), and raised its price target from $47.00 to $53.00.
Jefferies noted, “4Q12 EPS from ops increased 7% and modestly exceeded expectations. Core sales were flat but orders increased. We have increased conviction in our forecasts. A large impairment charge was taken and this hurt the stock. We maintain our estimates and consider IEX fairly valued.”
IDEX Corporation closed on Tuesday at $48.96.
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