Citi has revised its price target for Idex Corp. (IEX, Financial), lowering it from $264 to $201, while maintaining a Buy rating on the company's shares. This adjustment comes as part of Citi's first-quarter outlook for U.S. electrical equipment and industrial conglomerates.
According to Citi, the protectionist policies anticipated under the current U.S. administration are expected to potentially reinvigorate long-term growth trends within the sector. The firm sees emerging value across multiple segments in the industry.
Despite the adjusted price target, Citi anticipates that first-quarter orders and earnings for the sector should generally perform well, as highlighted in their research communication to investors.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 12 analysts, the average target price for IDEX Corp (IEX, Financial) is $220.59 with a high estimate of $264.00 and a low estimate of $159.00. The average target implies an upside of 30.91% from the current price of $168.51. More detailed estimate data can be found on the IDEX Corp (IEX) Forecast page.
Based on the consensus recommendation from 15 brokerage firms, IDEX Corp's (IEX, Financial) average brokerage recommendation is currently 2.3, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for IDEX Corp (IEX, Financial) in one year is $235.43, suggesting a upside of 39.71% from the current price of $168.51. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the IDEX Corp (IEX) Summary page.
