In a report released today, Joseph C Giordano from TD Cowen maintained a Buy rating on IDEX (IEX – Research Report), with a price target of $225.00.
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Joseph C Giordano’s rating is based on an evaluation of the prospects for IDEX, despite current challenges. He believes that the potential upside makes it a calculated risk worth considering. Although there is uncertainty and low investor confidence due to the lack of growth in the industrial segment and a significant decline in the health and science segment, there is also optimism regarding future performance.
Key factors influencing his Buy rating include anticipated recovery in the semiconductor sector in the second half of the year, driven by expectations of normal chip fabrication equipment volumes. Additionally, there is potential for modest growth in life science instruments. An improvement in EBITDA margins is also expected as volumes increase and cost-cutting efforts take effect. A strong performance in the first quarter is critical to alleviate concerns and support positive momentum for the rest of the year.
In another report released on February 6, Robert W. Baird also maintained a Buy rating on the stock with a $226.00 price target.