DA Davidson analyst Matt Summerville lowered his price target on Nordson to $125 and kept his Neutral rating after its "soft" Q3 results driven by weaker than expected organic performance in its Adhesive Tracking System and Industrial Coating Systems business. The analyst also points to the management's cut in its outlook for organic growth and forecast of a "minimal" operating margin expansion due to "particular weakness" in its electronics-related end markets. Summerville lowers his organic growth forecast for FY19 to "down 1% to flat" from "roughly flat" and also cuts his FY19 and FY20 EPS view by 15c and 20c to $5.90 and $6.55 respectively.