UPDATE: Jefferies Color On IEX Initiation

Jefferies, which initiated coverage of IDEX Corp. IEX, is providing some color on the stock. “IDEX has built a strong earnings track record by leveraging its leading market positions, consistently lowering costs and generating excess cash flow,” Jefferies writes. “Armed with multiple sales and productivity strategies, we expect 19% EPS growth in 2011 and 17% in 2012. Acquisition accretion should boost these above-Street forecasts.” IDEX Corp. closed Thursday at $39.77.