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Fly News Breaks for January 27, 2020
Jan 27, 2020 | 07:56 EDT
DA Davidson analyst Matt Summerville upgraded Nordson to Buy from Neutral with a price target of $200, up from $145. The analyst contends that the company's initial FY20 guidance calling for 2%-6% earnings growth will prove to be conservative, and that the upturn in the semiconductor/electronics demand driven by the gradual rollouts of 5G will see its earnings approach $8.25 per share by mid-FY21. Summerville further cites the proliferation of electronics within autos and the "increasingly complex chip packages", along with its sizable medical platform, as drivers for Nordson's growth.
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