Idex Corp. price target lowered to $245 from $256 at RBC Capital

RBC Capital lowered the firm’s price target on Idex Corp. (IEX) to $245 from $256 but keeps an Outperform rating on the shares. The firm cites the company’s Q4 operating miss and below-consensus guide but also believes that there are plenty of reasons to stay positive. The glaringly weak Q1 guidance was explained by one-off factors, including stock comp, non-repeating projects, and normalized industrial backlog, and the return of blanket orders is especially encouraging, the analyst tells investors in a research note.