Wolfe Research Starts Nordson (NDSN) at Peerperform

Wolfe Research analyst Nigel Coe initiates coverage on Nordson (NASDAQ: NDSN) with a Peerperform rating.

The analyst comments "M&A is Key to the Value Creation Playbook: Roughly half of the company's EBITDA has come from past acquisitions, and we expect M&A to play an equally important role in driving value creation and contributing to the earnings CAGR going forward. Exposure to High-Growth End Markets: Semi and medical account for half of the company's revenue, and these should be MSD+ growth markets going forward. The cycle in both markets has been unfavorable for 2+ years; we are watching for signs of a return to secular growth. Peer Perform Rating: We are Peer Perform rated as the company has the DNA of an industrial compounder and valuation is discounted vs. historical levels, but we are on the sideline as we await more evidence that the M&A flywheel is spinning smoothly and end market trends in medical and semi are improving."

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

Shares of Nordson closed at $214.12 yesterday.

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