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

Forgent Power Solutions (NYSE:FPS) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Robert W. Baird set a $55.00 price objective on shares of Forgent Power Solutions in a research report on Wednesday. KeyCorp boosted their target price on Forgent Power Solutions from $41.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. Morgan Stanley raised their price target on Forgent Power Solutions from $38.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Sunday, May 17th. TD Cowen increased their target price on Forgent Power Solutions from $63.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Finally, Weiss Ratings upgraded shares of Forgent Power Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Forgent Power Solutions presently 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. Forgent Power Solutions has a 12 month low of $25.95 and a 12 month high of $66.00. The firm has a 50-day simple moving average of $51.53. The company has a market cap of $13.00 billion and a P/E ratio of 284.63.

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.