SPX Technologies initiated with an Outperform at BMO Capital

BMO Capital initiated coverage of SPX Technologies (SPXC) with an Outperform rating and $243 price target The firm noted that SPX’s stock has “transformed over the last five years into a SMID-cap compounder with a leading growth and margin profile,” highlighting its HVAC exposure with differentiated technology, sound capital allocation, and top- and bottom-line growth levers that extend beyond this year. BMO said it believes “this stock needs to be on investors’ radar.”