Idex Corp. initiated with a Market Perform at BMO Capital

BMO Capital initiated coverage of Idex Corp. (IEX) with a Market Perform rating and $214 price target The firm believes that low-to-mid single digit percentage growth, margin improvement, and capital deployment “should translate to a 10%+ EPS algorithm” for Idex, but added that while it is seeing positive signs, BMO debates if it needs “a true cycle to make this a reality.” BMO wants to see “a sustained inflection in shorter-cycle/ISM and/or positive organic volume growth to drive several beats and raises” before it gets more constructive.