Morgan Stanley Initiates Coverage on Forgent Power Solutions (NYSE:FPS)

Investment analysts at Morgan Stanley began coverage on shares of Forgent Power Solutions (NYSE:FPS) in a report released on Monday,Benzinga reports. The firm set an “equal weight” rating and a $38.00 price target on the stock. Morgan Stanley’s price target would indicate a potential upside of 10.75% from the stock’s previous close.

A number of other equities analysts have also commented on FPS. The Goldman Sachs Group initiated coverage on Forgent Power Solutions in a research note on Monday. They set a “buy” rating and a $48.00 price target for the company. Jefferies Financial Group assumed coverage on Forgent Power Solutions in a research report on Monday. They set a “buy” rating and a $44.00 target price for the company. Wolfe Research set a $48.00 target price on shares of Forgent Power Solutions in a report on Monday. KeyCorp assumed coverage on shares of Forgent Power Solutions in a research note on Monday. They set an “overweight” rating and a $41.00 price target on the stock. Finally, Wall Street Zen raised shares of Forgent Power Solutions to a “hold” rating in a research note on Monday, February 16th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.80.

Forgent Power Solutions Stock Performance

FPS opened at $34.31 on Monday. Forgent Power Solutions has a 52 week low of $25.95 and a 52 week high of $35.80.

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.