Nordson price target raised to $325 from $295 at KeyBanc

KeyBanc raised the firm’s price target on Nordson (NDSN) to $325 from $295 and keeps an Overweight rating on the shares. Following the company’s Q1 earnings release, the firm walked away encouraged by robust sales momentum in ATS, and clear signs of order/backlog strength despite some emerging margin pressure in IPS. Looking forward, KeyBanc feels Nordson’s updated guidance is relatively conservative and views current levels as an attractive entry point ahead of more meaningful cyclical improvements across the portfolio.