Powell price target raised to $285 from $195 at Roth Capital

Roth Capital raised the firm’s price target on Powell (POWL) to $285 from $195 and keeps a Buy rating on the shares. The fundamentals for Powell’s primary markets – energy, utility, commercial & industrial – remain very healthy, with strategic initiatives underway offering attractive growth and margin enhancement potential, the analyst tells investors in a research note. Powell is trading well above its historical valuation levels, but the firm believes a premium is warranted and see potential for upside to the firm’s estimates, Roth added.