Forgent Power Solutions (NYSE:FPS) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Forgent Power Solutions (NYSE:FPS) from a hold rating to a strong-buy rating in a report published on Tuesday,Zacks.com reports.

A number of other analysts have also issued reports on FPS. TD Cowen increased their target price on Forgent Power Solutions from $63.00 to $73.00 and gave the company a “buy” rating in a report on Monday, June 22nd. The Goldman Sachs Group lifted their price target on Forgent Power Solutions from $49.00 to $60.00 and gave the company a “buy” rating in a report on Friday, May 15th. Oppenheimer increased their price objective on Forgent Power Solutions from $43.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Weiss Ratings upgraded Forgent Power Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 27th. Finally, KeyCorp lifted 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. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.75.

Forgent Power Solutions Trading Up 3.7%

Shares of NYSE:FPS opened at $42.70 on Tuesday. The company has a 50 day moving average price of $51.53. Forgent Power Solutions has a 52 week low of $25.95 and a 52 week high of $66.00. The stock has a market cap of $13.00 billion and a P/E ratio of 284.63.

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.