Idex Corp. (IEX) Reiterated at Buy by Stifel

Stifel analyst Nathan Jones reiterated a Buy rating on Ideanomics Inc. (NYSE: IEX).

The analyst commented, "Deliberate positioning in front of semiconductor, data center, and space/defense markets are driving a lot of growth. Water business is doing very well around storm water collection and management with impacts from climate change. Utilities don't understand their own systems, IDEX uses technology to provide them with solutions. Data centers are having a positive impact with product to purify water for use in cooling. Data center demand driven for IDEX by its ability to solve customer problems where alternatives have failed. Initial construction was performed with off the shelf products, customers are now looking for specific solutions to specific problems which plays into IDEX's core competencies. Behind the meter power became primary power which made the applications and cooling far more challenging, an area where IDEX can bring differentiated solutions. IDEX adapted technology from valves in medical to data centers where existing product was failing (leaks)."

For an analyst ratings summary and ratings history on Ideanomics Inc. click here. For more ratings news on Ideanomics Inc. click here.

Shares of Ideanomics Inc. closed at $0.88 yesterday.

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