SPX Technologies Well-Positioned for Profitable Growth, Oppenheimer Says

MT Newswires Live03-24

SPX Technologies (SPXC) remains well-positioned for profitable growth, supported by over 80% of its revenue from the Americas region and its insulation from the ongoing Middle East conflict, Oppenheimer analysts said in a note emailed Tuesday.

Analysts expect SPX Technologies to generate robust growth from heating, ventilation, and air conditioning, or HVAC, and a recovery in its detection and measurement, or D&M, business.

Oppenheimer said that the HVAC business is the "anchor" of the company's flywheel trajectory, as it benefits from growth in Cooling due to data centers, and a broadened hydronics runway in Heating.

Analysts said they are "bullish" on growth opportunities for its D&M business, driven by higher critical infrastructure and defense spending.

Oppenheimer retained an outperform rating on the stock and a $272 price target.

Price: 197.57, Change: +3.04, Percent Change: +1.57

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