William Blair analyst Ross Sparenblek has maintained their bullish stance on SPXC stock, giving a Buy rating yesterday.
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Ross Sparenblek has given his Buy rating due to a combination of factors surrounding SPX Technologies’ strategic acquisition of Crawford United Corporation. This acquisition is seen as a highly complementary addition to SPX’s HVAC segment, enhancing its capabilities in air handling systems. Crawford’s air handling segment, which has shown significant profitability and growth, will be integrated into SPX’s operations, potentially boosting SPX’s market position in the pharmaceutical, institutional, and industrial markets.
Furthermore, the acquisition aligns with SPX’s long-term strategy by focusing on high-margin segments and divesting non-core assets. The operational improvements and capacity expansion plans in the Southeast U.S. are expected to position SPX favorably to capitalize on the anticipated growth in pharmaceutical capital expenditures. These strategic moves are likely to enhance SPX’s profitability and market competitiveness, justifying the Buy rating from Ross Sparenblek.
According to TipRanks, Sparenblek is a 4-star analyst with an average return of 14.7% and a 75.51% success rate. Sparenblek covers the Industrials sector, focusing on stocks such as Federal Signal, SPX, and Kadant.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $237.00 price target.