New York, September 18 (FinanceEnquiry.com) – Analysts at Citigroup initiate their BUY rating on the shares of IDEX Corporation (NYSE: IEX). The 12-month target price is set to $48.
In a research note published on September 17, the analysts mention that warranting a premium against its small-cap Multi-Industry peers and with near sector best profitability, quicker than average growth and below-average cyclicality, IDEX Corporation is assumed among the highest-quality Multi-Industry small-caps.
In addition to this, position of the company in late-cycle and less-cyclical markets for example energy, petrochemical, water and analytical instrument is really liked.
Furthermore, operating margins averaging 16 percent over the past five years (310 basis points higher than the MI-EE segment average) and more rapidly than average revenue growth at a 10 percent ten-year CAGR with below-average cyclicality have been comprised in the standout financial metrics of IDEX Corporation. A ten-year track record of FCF that is greater that net income is also boasted by the company, the analysts add further.
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In a research...
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