Gentex price target raised to $37 from $35 at Baird

Baird raised the firm’s price target on Gentex (GNTX) to $37 from $35 and keeps an Outperform rating on the shares. The firm said the company delivered less bad 3Q24 results/guidance that exceeded pessimistic sentiment into the print. Several key elements should also provide better trading support from here, including outgrowth that rebounded strongly, newly outlined efforts to constrain opex growth, and the resumption of gross margin improvement even if lagging expectations somewhat, in magnitude.