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Investing.com - DA Davidson reduced its price target on IDEX Corp (NYSE:IEX) to $180.00 from $215.00 on Monday, while maintaining a Neutral rating on the stock. The company’s shares, currently trading at $157.68, have declined 23% year-to-date, though InvestingPro analysis suggests the stock may be undervalued.
The firm cited "incremental customer tentativeness" regarding inbound orders and expected mix headwinds as key factors behind the downward revision of its 2025 and 2026 estimates.
DA Davidson noted that IDEX faces mixed end market conditions across its business segments, with strength in energy, space/defense, and food/pharmaceutical sectors being offset by weakness in automotive, agriculture, and semiconductor businesses.
The research firm observed that day rates appear mixed, while slower customer decision-making is creating additional headwinds for the industrial company’s operations.
DA Davidson maintained its Neutral rating on IDEX stock, stating that it sees no "sustained catalyst for upward estimate revisions/multiple reflation" at this time.
In other recent news, IDEX Corporation reported its second-quarter 2025 earnings, surpassing analysts’ expectations. The company achieved an earnings per share of $2.07, exceeding the forecasted $1.99. Additionally, IDEX’s revenue reached $865 million, higher than the anticipated $857.93 million. Despite these positive earnings results, Mizuho (NYSE:MFG) has lowered its price target for IDEX to $170 from $185, maintaining a Neutral rating on the stock. The reduction in the price target is attributed to ongoing market challenges such as tough conditions, extended destocking, and tariffs that have led to guidance cuts over the past two years. These developments reflect the current operational concerns surrounding IDEX.
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