Forgent Power Solutions (NYSE:FPS) Hits New 12-Month High - Here's Why

Key Points

• 52-week high: Forgent Power Solutions (NYSE:FPS) shares reached a new 52-week high, trading as high as $40.67 and last at $39.8580 on volume of 794,883 shares.
• Multiple analysts recently initiated coverage with predominantly overweight/buy ratings; the stock has a consensus rating of "Moderate Buy" and a consensus target price of $43.40.
• Forgent Power Solutions designs and manufactures electrical distribution equipment and is positioned to benefit from rising investment in data centers and AI, new generation capacity, utility T&D upgrades, and reshoring of manufacturing.

Forgent Power Solutions, Inc. (NYSE:FPS - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $40.67 and last traded at $39.8580, with a volume of 794883 shares. The stock had previously closed at $39.22.

Analysts Set New Price Targets

FPS has been the subject of a number of research analyst reports. Morgan Stanley initiated coverage on shares of Forgent Power Solutions in a research report on Monday, March 2nd. They set an "equal weight" rating and a $38.00 target price for the company. Barclays initiated coverage on shares of Forgent Power Solutions in a research report on Monday, March 2nd. They set an "overweight" rating and a $44.00 target price for the company. JPMorgan Chase & Co. initiated coverage on shares of Forgent Power Solutions in a research report on Monday, March 2nd. They set an "overweight" rating and a $40.00 target price for the company. Weiss Ratings began coverage on shares of Forgent Power Solutions in a research report on Wednesday. They set a "sell (d)" rating for the company. Finally, KeyCorp began coverage on Forgent Power Solutions in a report on Monday, March 2nd. They issued an "overweight" rating and a $41.00 price target for the company. Nine research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Forgent Power Solutions has a consensus rating of "Moderate Buy" and a consensus target price of $43.40.

Forgent Power Solutions Price Performance

The stock has a fifty day moving average of $33.28.

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.

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