Wall Street Has a Positive Opinion on SPX Technologies (SPXC)

​SPX Technologies, Inc. (NYSE:SPXC) is one of the Best Russell 2000 Stocks to Buy Right Now. Wall Street has a positive opinion on the stock, with analysts’ 12-month price target reflecting more than 10.2% upside from the current levels.

​Recently, on January 6, TD Cowen reiterated a Hold rating on SPX Technologies, Inc. (NYSE:SPXC) with a $225 price target. On the same day, Ross Sparenblek from William Blair reiterated a Buy rating on the stock without disclosing any price targets.

Analysts at TD Cowen noted that the recent sell-off in the stock was mainly due to the market’s misinterpretation of Nvidia’s announcement regarding warm-water cooling. The firm highlighted that the news does not mean that SPX’s cooling technology is not useful anymore.

​TD Cowen noted that the cooling towers remain essential for heat rejection in data centers. In fact, the firm sees the news as likely to have a positive effect on the stock in comparison to a negative effect for chiller manufacturers. TD Cowen continues to see SPX Technologies, Inc. (NYSE:SPXC) as favorably placed in the data center cooling landscape.

​SPX Technologies, Inc. (NYSE:SPXC) supplies infrastructure equipment serving the heating, ventilation, cooling, detection, and measurement markets worldwide.

While we acknowledge the potential of SPXC to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SPXC and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.