Attractive Sector Valuations Drive Interest Towards IDEX Corporation (IEX)

IDEX Corporation (NYSE:IEX) is one of the 15 Best Industrial Machinery and Supplies stocks to buy according to Hedge Funds.

As of February 3 closing, sentiment around IDEX Corporation (NYSE:IEX) was strongly bullish. The stock had received coverage from 4 analysts, all of whom assigned Buy ratings. The median 1-year price target for the stock is $208.25, as per consensus.

On January 15, the price target on IDEX Corporation (NYSE:IEX) was revised from $195 to $211 by RBC Capital analyst Deane Dray. The analyst also reiterated his Outperform rating on the stock based on the upcoming fourth-quarter results preview for the Multi-Industry segment. Dray maintains an optimistic view of the sector and appreciates prevailing valuations despite “sluggish and uneven demand” across the industrials space. He also highlighted several multi-year tailwinds such as megaprojects, datacenter momentum, energy transition, and reshoring, that are expected to drive returns in the foreseeable future.

IDEX Corporation (NYSE:IEX) delivers applied solutions across the globe through its three business segments: Fluid & Metering Technologies, Health & Science Technologies, and Fire & Safety/Diversified Products. The company is structured around 50 decentralized businesses, offering high-impact products along with operational efficiency.

While we acknowledge the potential of IEX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.