SPX Technologies price target raised to $126 from $90 at UBS

UBS raised the firm’s price target on SPX Technologies to $126 from $90 and keeps a Neutral rating on the shares. The firm came away from SPX’s first investor day in two years positive on the continued growth opportunity over the medium and long term, supported by its confidence in management and SPX’s impressive track record, the analyst tells investors in a research note. While time will tell whether SPX can achieve its newly stated ambition to be “the next great industrial tech company,” it’s off to a great start and has the right leadership, but stock valuation is already resembling hiqh-quality compounder status, the firm says.