Forgent Power Solutions (NYSE:FPS) Shares Gap Up – Still a Buy?

Forgent Power Solutions, Inc. (NYSE:FPS)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $45.52, but opened at $50.01. Forgent Power Solutions shares last traded at $47.8710, with a volume of 2,288,926 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on FPS shares. KeyCorp initiated coverage on Forgent Power Solutions in a report on Monday, March 2nd. They issued an “overweight” rating and a $41.00 target price for the company. The Goldman Sachs Group initiated coverage on Forgent Power Solutions in a report on Monday, March 2nd. They issued a “buy” rating and a $48.00 price objective for the company. TD Cowen started coverage on shares of Forgent Power Solutions in a research note on Monday, March 2nd. They issued a “buy” rating and a $45.00 price objective for the company. Jefferies Financial Group started coverage on shares of Forgent Power Solutions in a report on Monday, March 2nd. They set a “buy” rating and a $44.00 target price on the stock. Finally, Oppenheimer boosted their price target on shares of Forgent Power Solutions from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Tuesday, March 17th. Nine investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Forgent Power Solutions has a consensus rating of “Moderate Buy” and an average price target of $43.40.

Forgent Power Solutions Stock Up 9.6%

The business has a 50 day simple moving average of $34.37.

About Forgent Power Solutions

We are a leading designer and manufacturer of electrical distribution equipment used in data centers, the power grid and energy-intensive industrial facilities. Demand for our products is growing rapidly as (i) companies accelerate investment in data centers to meet the computational requirements for cloud computing and AI, (ii) independent power producers build new generation capacity to satisfy rising electricity demand, (iii) utilities upgrade and expand T&D infrastructure to address rapid load growth and (iv) manufacturers reshore their factories to secure their supply chains and mitigate the impact of tariffs.