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

Forgent Power Solutions (NYSE:FPS) was upgraded by equities research analysts at Robert W. Baird to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other analysts have also commented on the stock. Weiss Ratings upgraded shares of Forgent Power Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 27th. Oppenheimer increased their target price on shares of Forgent Power Solutions from $43.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Jefferies Financial Group raised their target price on Forgent Power Solutions from $44.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, May 29th. The Goldman Sachs Group upped their price target on Forgent Power Solutions from $49.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, KeyCorp increased their price target on Forgent Power Solutions from $41.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $56.75.

Forgent Power Solutions Stock Performance

NYSE:FPS opened at $39.65 on Wednesday. The company’s 50 day moving average price is $51.54. Forgent Power Solutions has a 1-year low of $25.95 and a 1-year high of $66.00. The stock has a market cap of $12.07 billion and a price-to-earnings ratio of 264.36.

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.