SPX Technologies price target raised to $197 from $170 at Oppenheimer

Oppenheimer raised the firm’s price target on SPX Technologies (SPXC) to $197 from $170 and keeps an Outperform rating on the shares. The firm anticipates further SPX outperformance as investors calibrate the strength of the team’s HVAC positioning, D&M demand prospects, and incremental runway for flywheel value creation. Although the current global industrial backdrop is undoubtedly fluid, SPX remains well positioned given its favorable revenue mix, and Piper expects the team to achieve 2025 guidance ranges with further HVAC outgrowth, D&M recovery/reacceleration, CI traction, and incremental M&A driving standout earnings and cash flow growth over the coming years. Combining this setup with reasonable valuation, SPX remains the firm’s top IMFC pick.