Movement Alert|Forgent Power Solutions Rises 5.25% in Regular Trading, Heavy Electrical Equipment Sector Rebounds with Multiple Analyst Upgrades

Market Focus05-21 22:38

On May 21, Forgent Power Solutions rose 5.25% in regular trading, trading at $47.085/share, with trading volume of $45.82 million.

On the news front, the Heavy Electrical Equipment sector extended its strong rebound, with Bloom Energy up 11.49%, NuScale Power up 3.18%, and GE Vernova up 0.88%, providing upward momentum for the stock to continue its recovery from recent pullbacks.

Additionally, multiple investment banks recently raised their target prices on the company following its strong Q3 earnings report. TD Cowen raised its target to $63, JPMorgan to $56, and Oppenheimer to $60, all maintaining buy ratings. The company's fiscal Q3 results showed revenue surging 103% year-over-year to $378.7 million and adjusted net income rising 132%, while management raised full-year revenue guidance to $1.35-$1.39 billion, reinforcing confidence in the growth trajectory.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment