Seaport upgrades Nordson to 'buy' on growth strategy upside

Nordson

17/12/2024 13:55

** Seaport upgrades rating for dispensing equipment maker
Nordson Corp  NDSN.O  to "buy" from "neutral"
    ** "We are upgrading NDSN due to the valuation and our
expectation that the NBS Next strategy should return the company
to above average profitable growth" - Seaport
    ** Brokerage says this strategy is positioned to drive
margins higher through its focus on optimizing product mix and
enhancing factory efficiency
    ** Says weak industrial activity which affected NDSN's
organic sales in the last two years could recover by early 2025,
on the back of lower interest rates and clarity around tariffs
    ** Initiates price target of $250, representing a 11.6%
upside to stock's last close
    ** Four brokerages rate the stock "buy" and six "hold";
their median PT is $255 - data compiled by LSEG
    ** As of last close, stock has fallen 15.2% YTD

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))