Forgent Power Solutions initiated with an Outperform at Wolfe Research

Wolfe Research initiated coverage of Forgent Power Solutions (FPS) with an Outperform rating and $43 price target Forgent is a “fast-growing” supplier of electrical distribution equipment to the “attractive” data center, utility and heavy manufacturing sectors, the analyst tells investors in a research note. Wolfe sees an attractive risk/reward at current share levels.