In a report released today, Gary Prestopino from Barrington maintained a Buy rating on Standex International, with a price target of $260.00.
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Gary Prestopino has given his Buy rating due to a combination of factors that highlight Standex International’s strategic positioning and growth potential. The company has successfully transformed its business model through acquisitions and divestitures, creating a diversified portfolio that caters to high-value markets with customized solutions. This transformation has been bolstered by their ‘Customer Intimacy’ approach, which fosters strong partnerships with clients to deliver tailored products.
Additionally, Standex is actively expanding its presence in fast-growing markets such as electrical grids, electric and hybrid vehicles, and renewable energy, supported by new product launches and strategic acquisitions. The recent acquisitions, such as Amran/Narayan and McStarlite Co., have significantly enhanced Standex’s market reach and profitability. With an optimistic financial outlook, including increased sales guidance and anticipated growth in high-margin segments, Prestopino sees substantial upside potential, justifying the Buy rating.
In another report released on November 4, D.A. Davidson also maintained a Buy rating on the stock with a $272.00 price target.