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Investing.com - Mizuho (NYSE:MFG) has reduced its price target on IDEX Corp (NYSE:IEX) to $170.00 from $185.00 while maintaining a Neutral rating on the stock. The stock, currently trading at $162.91, has declined over 26% in the past six months. According to InvestingPro analysis, IDEX appears undervalued at current levels.
The price target reduction comes as IDEX faces continued market challenges, including tough market conditions, extended destocking, and tariffs that have led to a series of guidance cuts over the past two years.
Mizuho noted that IDEX is experiencing erratic order rates, while previously accretive acquisitions such as Mott are now becoming dilutive to earnings.
The research firm has cut its 2025 earnings per share estimate for IDEX to $7.87 from $8.12, and reduced its 2026 estimate to $8.77 from $9.00.
Mizuho indicated it remains engaged with the stock but believes "it’s too early to call the all clear" given IDEX’s clouded operational outlook.
In other recent news, IDEX Corporation reported its second-quarter 2025 earnings, surpassing analysts’ expectations. The company achieved an earnings per share (EPS) of $2.07, outperforming the forecast of $1.99. Additionally, IDEX exceeded revenue projections, reporting $865 million compared to the anticipated $857.93 million. These results reflect a positive financial performance for the quarter. Despite the favorable earnings and revenue figures, the company’s stock experienced a decline in pre-market trading. These developments are part of the ongoing financial updates from IDEX Corporation.
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