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Fly News Breaks for April 12, 2018
IEX
Apr 12, 2018 | 06:29 EDT
DA Davidson analyst Matt Summerville initiated IDEX Corp with a Neutral rating and a price target of $140. The analyst points to the company's exposure to positive demand trends in most of its key end markets, including industrial, life sciences, water/municipal, agriculture, and semiconductors, while also citing its "substantial free cash flow and strong balance sheet". Summerville warns however that IDEX's guidance is likely "biased upwards", while its multiple of 25.3-times his expected FY19 EPS is "fully valued". He recommends that investors add to positions if a "meaningful pullback" in the stock price materializes and views the company as a solid long-term holding.
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