Why Nordson (NDSN) Shares Are Rising

Nordson Corp NDSN shares are trading higher by 5.94% to $224.49 Wednesday morning after Keybanc upgraded the stock from Sector Weight to Overweight and announced a $255 price target.

Nordson shares otherwise fell during Tuesday's session after the company reported first-quarter financial results and updated annual guidance.

What Happened?

Nordson reported Q1 sales of $610 million versus analyst estimates of $623.88 million. The company turned in adjusted EPS of $1.95 compared to consensus estimates of $1.98.

"First quarter results were in line with our expectations. Our team delivered sales growth comparable to a record fiscal first quarter 2022 despite unfavorable currency headwinds, the timing of the Chinese New Year...Read More

According to data from Benzinga Pro, NDSN has a 52-week high of $251.26 and a 52-week low of $194.89.