Analysts Raise SPX Technologies (SPXC) Price Target Following Positive Q1 Results

SPX Technologies, Inc. (NYSE:SPXC) is one of the 10 Best Industrial Stocks Benefiting from the Data Center Boom. On May 7, TheFly reported that JPMorgan increased its price target on SPX Technologies while maintaining an overweight rating on the stock following the company’s first-quarter earnings report.

Earlier, on May 4, Truist also raised its price target on SPX Technologies to $261 from $251 while reiterating a Buy rating on the stock, citing the company’s positive Q1 results.

In the first quarter of the year, SPX Technologies registered a 17.4% increase in revenues to $566.8 million while Adjusted EBITDA surged 22.9% to $126.1 million. SPX Technologies President and CEO Gene Lowe said the company continues to see healthy demand across its key end markets. He added:

“We continue to make meaningful progress on our investments in production capacity expansions that position us for sustained long-term growth in attractive end markets, including supporting the strong demand for our data center solutions. We are optimistic about the strength of customer demand and our operational momentum, and we remain well-positioned to navigate a changing tariff environment. With a solid demand backdrop and a robust pipeline of attractive acquisition opportunities, I remain highly confident in our ability to continue driving value for years to come.”

Out of 14 analyst ratings compiled by CNN, 93% rated SPX Technologies Buy, while 7% rated it Hold. As of May 8, the stock has a median price target of $267.50, a 31.88% upside from the current price of $202.84.

SPX Technologies, Inc. (NYSE:SPXC) is a diversified, global supplier of highly engineered products and technologies. The company is a leader in the HVAC and detection & measurement industries.

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