Bernstein analyst Brendan Luecke lowered the firm’s price target on Idex Corp. to $220 from $225 and keeps a Market Perform rating on the shares. The firm remains constructive on Idex following the Q1 earnings report, and while the firm anticipated a deceleration coming into the quarter, it is reducing estimates in line with the new guidance, the analyst tells investors in a research note.
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Published first on TheFly
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Read More on IEX:
- Idex Corp. to acquire Iridian for C$150M cash consideration
- Idex Corp. cuts FY23 adjusted EPS view to $8.25-$8.55 from $8.50-$8.80
- Idex Corp. sees Q2 adjusted EPS $2.10-$2.13, consensus $2.22
- Idex Corp. reports Q1 adjusted EPS $2.09, consensus $2.02
- Idex Corp. price target raised to $246 from $242 at Stifel
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