Standex initiated with a Buy at Roth Capital

Roth Capital analyst Matt Koranda initiated coverage of Standex (SXI) with a Buy rating and $175 price target The company’s management has a “demonstrated and strong record” of capital allocation over the past 10 years, transforming a low-growth mini-industrial conglomerate into a higher growth and return specialty industrial platform, the analyst tells investors in a research note. Roth expects more of the same strong capital allocation and execution in the coming years which it believes should create further shareholder value.