Forgent Power Solutions (NYSE:FPS) Shares Up 8% – Time to Buy?

Forgent Power Solutions, Inc. (NYSE:FPS)’s share price was up 8% during mid-day trading on Monday . The stock traded as high as $33.80 and last traded at $33.45. Approximately 986,344 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 2,925,026 shares. The stock had previously closed at $30.97.

Analysts Set New Price Targets

A number of research firms recently commented on FPS. KeyCorp began coverage on shares of Forgent Power Solutions in a report on Monday, March 2nd. They set an “overweight” rating and a $41.00 price target for the company. Zacks Research upgraded shares of Forgent Power Solutions to a “hold” rating in a research report on Tuesday, March 10th. Barclays assumed coverage on shares of Forgent Power Solutions in a research note on Monday, March 2nd. They set an “overweight” rating and a $44.00 price objective for the company. TD Cowen began coverage on Forgent Power Solutions in a research note on Monday, March 2nd. They issued a “buy” rating and a $45.00 target price on the stock. Finally, Bank of America started coverage on Forgent Power Solutions in a report on Monday, March 2nd. They set a “buy” rating and a $48.00 price target on the stock. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $43.30.

Forgent Power Solutions Price Performance

Forgent Power Solutions Company Profile

We are a leading designer and manufacturer of electrical distribution equipment used in data centers, the power grid and energy-intensive industrial facilities. Demand for our products is growing rapidly as (i) companies accelerate investment in data centers to meet the computational requirements for cloud computing and AI, (ii) independent power producers build new generation capacity to satisfy rising electricity demand, (iii) utilities upgrade and expand T&D infrastructure to address rapid load growth and (iv) manufacturers reshore their factories to secure their supply chains and mitigate the impact of tariffs.