Forgent Power Solutions (NYSE:FPS) Rating Increased to Strong-Buy at Robert W. Baird

Robert W. Baird upgraded shares of Forgent Power Solutions (NYSE:FPS) to a strong-buy rating in a report issued on Wednesday morning,Zacks.com reports.

FPS has been the subject of a number of other reports. TD Securities restated a “buy” rating and issued a $63.00 target price on shares of Forgent Power Solutions in a research note on Friday, May 15th. Jefferies Financial Group increased their price objective on shares of Forgent Power Solutions from $44.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, May 29th. The Goldman Sachs Group raised their price objective on shares of Forgent Power Solutions from $49.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Zacks Research raised shares of Forgent Power Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Finally, TD Cowen upped their target price on shares of Forgent Power Solutions from $63.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $56.75.

Forgent Power Solutions Trading Down 7.0%

Shares of FPS opened at $39.65 on Wednesday. The company has a market cap of $12.07 billion and a P/E ratio of 264.36. The company has a fifty day simple moving average of $51.54. Forgent Power Solutions has a 52-week low of $25.95 and a 52-week high of $66.00.

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.