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UPDATE: Oppenheimer Reiterates Outperform Rating, Raises PT on Nordson Corporation on EPS


In a report published Friday, Oppenheimer reiterated its Outperform rating on Nordson Corporation (NASDAQ: NDSN), and raised its price target from $70.00 to $77.00.

Oppenheimer noted, “Nordson's EPS for F1Q13 and F2Q13 guidance reflect clear shortfalls vs. consensus estimates. However, full-year expectations for mid-/high-single-digit organic revenue growth and similar operating margin year-over-year (conditional to comparable global GDP growth to 2012's) project full-year upside to expectations. We note an eerie similarity to F12's pronounced relative 2H strength (in fact, even more seasonally weighted). We expect that the F2H push (like last year) again checks sentiment, near-term. However, we believe seasonal trends are becoming a bit more pronounced each year (tech product cycles) and further believe acquisition integrations at ADS are likely a 1H drag and 2H benefit.”

Nordson Corporation closed on Thursday at $66.86.

Latest Ratings for NDSN

Mar 2021Morgan StanleyInitiates Coverage OnEqual-Weight
Feb 2021Wells FargoMaintainsOverweight
Jun 2020KeyBancDowngradesOverweightSector Weight

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