Forgent Power Solutions (NYSE:FPS) Stock Price Up 6.7% – Should You Buy?

Forgent Power Solutions, Inc. (NYSE:FPS)’s stock price rose 6.7% during trading on Monday . The company traded as high as $34.02 and last traded at $33.78. Approximately 1,040,473 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 3,034,534 shares. The stock had previously closed at $31.65.

Wall Street Analyst Weigh In

FPS has been the subject of several research reports. Oppenheimer began coverage on Forgent Power Solutions in a report on Monday, March 2nd. They set an “outperform” rating and a $42.00 price objective for the company. TD Cowen began coverage on Forgent Power Solutions in a research report on Monday, March 2nd. They set a “buy” rating and a $45.00 price target on the stock. Bank of America initiated coverage on Forgent Power Solutions in a research note on Monday, March 2nd. They set a “buy” rating and a $48.00 price target for the company. The Goldman Sachs Group assumed coverage on Forgent Power Solutions in a research note on Monday, March 2nd. They issued a “buy” rating and a $48.00 price objective on the stock. Finally, JPMorgan Chase & Co. started coverage on shares of Forgent Power Solutions in a research report on Monday, March 2nd. They set an “overweight” rating and a $40.00 target price for the company. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Forgent Power Solutions currently has a consensus rating of “Moderate Buy” and an average target price of $43.30.

Forgent Power Solutions Stock Performance

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.