SPX Technologies price target raised to $112 from $105 at Oppenheimer

Oppenheimer analyst Bryan Blair raised the firm’s price target on SPX Technologies to $112 from $105 and keeps an Outperform rating on the shares. The firm remains confident in SPX’s sustainable double-digit EPS CAGR, highlighted by the team’s potential to double run-rate EPS over the coming 4-5 years. Oppenheimer believes SPX is comfortably tracking to 2023 EPS guidance of $4.22-4.32, with HVAC share gains, ramping deal accretion, strong D&M project demand, and the likelihood of incremental M&A all supporting robust earnings/cash flow momentum in the new year.