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.

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