Standex price target raised to $272 from $237 at DA Davidson

DA Davidson raised the firm’s price target on Standex (SXI) to $272 from $237 and keeps a Buy rating on the shares. The company followed through on its outlook to finally turn positive with respect to organic growth, after nearly two years of declines, and looking ahead, organic growth could be in the high single-digits, especially as Grid turns organic this quarter and as new products roll-out, the analyst tells investors in a research note. The management’s tone was even more upbeat than normal, as orders reached all-time records with room for more from here, the firm added.