Forgent Power Solutions (NYSE:FPS) Given New $56.00 Price Target at Jefferies Financial Group

Forgent Power Solutions (NYSE:FPS) had its price objective raised by equities researchers at Jefferies Financial Group from $44.00 to $56.00 in a report issued on Friday. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 6.82% from the company’s previous close.

Several other equities analysts have also issued reports on FPS. JPMorgan Chase & Co. assumed coverage on Forgent Power Solutions in a research note on Monday, March 2nd. They issued an “overweight” rating and a $40.00 target price on the stock. Zacks Research raised Forgent Power Solutions to a “hold” rating in a research note on Tuesday, March 10th. Weiss Ratings raised Forgent Power Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. The Goldman Sachs Group increased their target price on Forgent Power Solutions from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Finally, KeyCorp increased their target price on Forgent Power Solutions from $41.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Ten investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Forgent Power Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $52.82.

Forgent Power Solutions Stock Up 10.2%

Shares of FPS traded up $4.87 during trading hours on Friday, hitting $52.43. 19,089,609 shares of the stock traded hands, compared to its average volume of 4,486,646. Forgent Power Solutions has a 1-year low of $25.95 and a 1-year high of $52.67. The firm has a fifty day simple moving average of $37.23.

Forgent Power Solutions Company Profile

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.