DA Davidson raised its price target on Nordson Corp. to $375 from $345 on Monday, citing sustained demand across core business segments and an improved growth outlook for fiscal 2026 and 2027.
The firm maintained its Buy rating as Nordson reported adjusted earnings per share of $3.25 in the third quarter of fiscal 2026, exceeding Wall Street estimates of $3.09 and DA Davidson’s forecast by $0.18. Quarterly revenue reached a record $818 million, up 10% from a year earlier and surpassing expectations of $779.5 million. Adjusted operating profit also came in $13 million above DA Davidson’s estimate, while net leverage stood at 1.7 times.
Nordson’s backlog improved 35% year-over-year, providing visibility into early 2027. Year-to-date, the stock has gained 39%, while the 52-week high stands at $338.55, near current levels where InvestingPro data flags potential overvaluation.
The analyst pointed to strong growth in Advanced Technology Solutions, driven by semiconductor dispense demand and rising Test & Inspection orders, as a key driver. Industrial Precision Solutions and Medical & Fluid Solutions also showed healthy inbound order activity, supported by engineered fluid solutions and medical product lines.
DA Davidson noted Nordson’s balance sheet offers capacity for additional share buybacks and mergers and acquisitions. Six analysts have revised earnings estimates upward for the upcoming period, according to InvestingPro data.
