Idex Corp. price target lowered to $241 from $245 at Baird

Baird lowered the firm’s price target on Idex Corp. (IEX) to $241 from $245 and keeps an Outperform rating on the shares. The firm said 3Q results were in line operationally with FSDP upside offsetting FMT downside. 2024 guidance was raised at the low end, and 4Q bands consensus. Positively, daily order rates, demand commentary, and estimates suggest stabilization, which is encouraging following a tumultuous period for the company.