Truist raised the firm’s price target on SPX Technologies (SPXC) to $216 from $215 and keeps a Hold rating on the shares as part of a broader research note previewing Machinery,. Infrastructure Services, and Multi-Industry industrial names in 2026. The firm continues to favor the broader power markets including Transmission & Distribution and Power Generation supported by data centers / AI, though it also believes that investors will be looking for cracks that demand has peaked, and as such backlog growth will be a major focus, particularly as capacity comes online and given the risks associated with hyperscalers, the analyst tells investors in a research note. Construction will be a bright spot with channel destock over and green shoots emerging, supported by Deere’s guide for Construction & Forestry up 10% in 2026, and while North America truck orders continue to underwhelm, orders are at a cyclical trough and will improve throughout 2026 as EPA 2027 moves ahead, creating some level of pre-buy, the firm added.
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