SPX Technologies price target raised to $124 from $118 at Oppenheimer

Oppenheimer analyst Bryan Blair raised the firm’s price target on SPX Technologies to $124 from $118 and keeps an Outperform rating on the shares. SPX solidified 39% full year EPS growth with adjusted EPS of $1.25 in Q4, in line with estimates, and still-elevated backlog, favorable underlying demand trends, ramping deal accretion, and secular tailwinds all comfortably support initial 2024 guidance and significant top- and bottom-line runway over the coming years, the analyst tells investors in a research note.