SPX Technologies Seen Benefiting From Data Center Cooling Demand, Oppenheimer Says

MT Newswires Live01-10

SPX Technologies (SPXC) is expected to benefit from growth in data center cooling demand, alongside momentum across its HVAC and detection & measurement business segments, Oppenheimer said in a note Thursday.

The firm said adoption of Nvidia's Vera Rubin chips will be additive to cooling demand, driving increased need for cooling towers and accelerating the shift to dry and adiabatic technologies.

Data center exposure is approaching 10% of consolidated sales and continues to grow at more than 30%, Oppenheimer noted.

The firm also highlighted double-digit demand from healthcare and pharmaceutical markets, while noting steady industrial expansion and a broadening hydroponics opportunity.

Oppenheimer maintained its adjusted EPS estimates of $6.77 for 2025 and $7.67 for 2026, and introduced a 2027 EPS estimate of $8.45.

Oppenheimer reiterated its outperform rating on SPX Technologies and a $240 price target.

Price: 211.18, Change: +3.74, Percent Change: +1.80

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