JPMorgan analyst Tomohiko Sano initiated coverage of Powell (POWL) with an Overweight rating and $310 price target implying 25% upside from current levels. Powell is a leader in custom-engineered electrical distribution, control, and safety equipment, serving oil and gas, petrochemicals, utilities, and diversified industrial markets, the analyst tells investors in a research note. The firm believes the company’s $1.6B backlog and exposure to “megatrends” like AI, automation, and electrification position it for sustained growth.
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