SPX Technologies initiated with a Hold at Truist

Truist analyst Jamie Cook initiated coverage of SPX Technologies (SPXC) with a Hold rating and $209 price target The company, generating roughly $2B in annual sales, operates primarily in the HVAC and Detection & Measurement markets, holding leading positions across most product categories, the analyst tells investors in a research note. Strong secular drivers, including data center expansion, electrification, and reshoring, support growth in HVAC demand, while SPX’s large installed base provides recurring service and retrofit revenue opportunities, positioning the company well for steady, long-term performance, the firm says.