Forgent Power Solutions initiated with an Equal Weight at Morgan Stanley

Morgan Stanley initiated coverage of Forgent Power Solutions (FPS) with an Equal Weight rating and $38 price target The company offers the most attractive end market exposure across U.S. Industrials with 80% of revenue tied to U.S. data center spending and U.S. reshoring, the analyst tells investors in a research note. However, the firm thinks the market will have more questions on Forgent’s duration of strength relative to others with data center exposure.