Nordson (NDSN) is coming out of cyclical headwinds that led to a -2% organic compound annual growth rate for fiscal years 2023-2024 following the 11% organic growth for each of the prior two years, Oppenheimer said in a note Thursday.
The firm said the company is poised for positive organic growth in fiscal Q3 after eight quarters of negative growth.
Oppenheimer said it boosted its earnings-per-share outlook for the company to $9.95 from $9.90 for fiscal 2025 and to $10.80 from $10.70 for fiscal 2026.
The firm upgraded Nordson to outperform from perform, with a $260 price target.
Shares of Nordson were up more than 1% in early trading Friday.
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