In a report released today, Gary Prestopino from Barrington maintained a Buy rating on Standex International (SXI – Research Report), with a price target of $220.00.
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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, focusing on providing customized solutions to high-value markets. This strategic shift is supported by their ‘Customer Intimacy’ approach, which emphasizes close collaboration with clients to deliver tailored products.
Standex’s growth strategy is robust, with a focus on expanding its presence in rapidly growing markets such as the electrical grid, electric and hybrid vehicles, and renewable energy. The company’s recent acquisitions, like Amran/Narayan and McStarlite Co., have bolstered its market position and are performing ahead of expectations. With a long-term outlook projecting significant sales growth and improved margins, Prestopino sees Standex as well-positioned to capitalize on fast-growing sectors, justifying the Buy rating with a price target of $220.