Forgent Power Solutions initiated with a Buy at Jefferies

Jefferies initiated coverage of Forgent Power Solutions (FPS) with a Buy rating and $44 price target The company is an manufacturer of engineered-to-order transformer and electric distribution solutions with “outsized” exposure to data center growth, the analyst tells investors in a research note. The firm says Forgent is an “under-capacitized industry with lead-times half that of peers.”