Forgent Power Solutions (NYSE:FPS) Hits New 12-Month High - Still a Buy?

Key Points

• Forgent Power Solutions (NYSE:FPS) hit a new 52-week high, trading as high as $37.53 and last at $36.98 on heavy volume of about 4.5 million shares.
• Several major banks (Goldman Sachs, Jefferies, BofA, JPMorgan, Morgan Stanley) recently initiated coverage with mostly buy/overweight ratings; the consensus target price is $43.40 (nine Buys, two Holds).
• Forgent is a designer and manufacturer of electrical distribution equipment positioned to benefit from rising investment in data centers, new generation capacity, T&D upgrades and manufacturing reshoring.

Forgent Power Solutions, Inc. (NYSE:FPS - Get Free Report) shares hit a new 52-week high on Tuesday . The company traded as high as $37.53 and last traded at $36.9760, with a volume of 4507891 shares trading hands. The stock had previously closed at $37.15.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. assumed coverage on Forgent Power Solutions in a report on Monday, March 2nd. They set an "overweight" rating and a $40.00 price objective on the stock. Jefferies Financial Group began coverage on Forgent Power Solutions in a research report on Monday, March 2nd. They issued a "buy" rating and a $44.00 target price for the company. Morgan Stanley began coverage on Forgent Power Solutions in a research report on Monday, March 2nd. They set an "equal weight" rating and a $38.00 price target on the stock. The Goldman Sachs Group initiated coverage on shares of Forgent Power Solutions in a research report on Monday, March 2nd. They set a "buy" rating and a $48.00 target price on the stock. Finally, Bank of America initiated coverage on shares of Forgent Power Solutions in a research note on Monday, March 2nd. They set a "buy" rating and a $48.00 price target for the company. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $43.40.

Forgent Power Solutions Price Performance

The firm's 50 day moving average is $33.07.

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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