Friday, December 17, 2010

Nordson (NASDAQ:NDSN) Earnings Driven by Adhesives Business

The adhesives business of Nordson (NASDAQ:NDSN) is starting to recover, and should a decent driver of earnings, especially in international sales.

Barrington Research said, "NDSN’s adhesives business is in the early stages of recovery and should continue to be an earnings driver due to growing international sales, the weak U.S. dollar, cost takeout during the downturn and an operational excellence program that is enhancing the product and profitability."

EPS estimates for full year 2011 were raised to a range of $5.25-$5.50.

Barrington maintains their "Outperform" rating on Nordson, which closed Thursday at $90.60, gaining $3.43, or, 3.93 percent. They raised their price target on them from $80 to $100.

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