Powell price target raised to $585 from $450 at Roth Capital

Roth Capital raised the firm’s price target on Powell (POWL) to $585 from $450 and keeps a Buy rating on the shares. The firm says the company is showing accelerating momentum for at least the next several years, the analyst tells investors in a research note. 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, Roth adds.