Oppenheimer analyst Bryan Blair maintained a Buy rating on SPX (SPXC – Research Report) yesterday and set a price target of $72.00. The company’s shares closed last Friday at $48.51, close to its 52-week low of $47.05.
According to TipRanks.com, Blair is a 5-star analyst with an average return of 18.7% and a 56.9% success rate. Blair covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Watts Water Technologies, and Altra Industrial Motion.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for SPX with a $72.50 average price target.
SPX’s market cap is currently $2.21B and has a P/E ratio of 36.47.
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SPX Corp. is the supplier of infrastructure equipment and products. It operates through the following segments: HVAC, Detection and Measurement, and Engineered Solutions. The HVAC segment engineers, designs, manufactures installs and services cooling products for the HVAC and industrial markets, as well as heating and ventilation products for the residential and commercial markets. The Detection & Measurement segment engineers, designs, manufactures and installs underground pipe and cable locators and inspection equipment, bus fare collection systems, communication technologies, and specialty lighting. The Engineered Solutions segment engineers, designs, manufactures, installs and services transformers for the power transmission and distribution market, as well as process cooling equipment and rotating and stationary heat exchangers for the power generation and industrial markets. The company was founded on December 20, 1911 and is headquartered in Charlotte, NC.
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