As previously reported, Janney Montgomery Scott analyst Michael Gaugler upgraded IDEX Corp. to Buy from Neutral, noting that the company continued its recent pattern with another "beat and raise" earnings report. While investors may question if this is "as good as it gets," he doubts it, despite some marginal headwinds, said Gaugler. He agrees with IDEX CEO Andy Silvernail's contention that the industrial recovery is not long in the cycle and sees another leg up for quality names, Gaugler added. He raised his fair value estimate on IDEX shares to $149 from $148.