Mizuho upgrades IDEX stock rating on portfolio shift, raises PT to $280

Mizuho upgraded IDEX Corp's stock rating to Outperform and raised its price target to $280, reflecting the company's shift towards higher-growth, less-cyclical markets. The firm highlighted IDEX's strong organic growth, improved revenue visibility, and attractive incremental margins, with Q2 2026 total orders up 28% and 47% within Health & Science Technologies.

Mizuho also raised its 2026 and 2027 EPS estimates by 5% and 9% respectively. Following the upgrade, IDEX reported stronger-than-expected Q2 earnings, with adjusted earnings of $2.32 per share on $921 million in revenue, surpassing Wall Street expectations.

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