SPX Technologies initiated with a Buy at B. Riley

B. Riley analyst Jeff Van Sinderen initiated coverage of SPX Technologies (SPXC) with a Buy rating and $195 price target SPX is a global designer, manufacturer, installer of, and service provider for highly specialized, engineered solutions in HVAC and detection and measurement “with an impressive track record of profitably growing organically and through acquisitions, which we expect to continue,” the analyst tells investors in a research note. The firm says the company has been focused on improving revenue and margins by maintaining its position at the upper end of the value chain. Riley says SPX is well positioned for multi-year revenue growth and expanding profitability.