SPX Technologies price target raised to $270 from $244 at B. Riley

B. Riley raised the firm’s price target on SPX Technologies (SPXC) to $270 from $244 and keeps a Buy rating on the shares. The Q4 results featured revenue above and AEBITDA in line with expectations, driven by acquisitions, and organic growth across HVAC and D&M segments, with backlogs reaching record year-end levels, the analyst tells investors in a research note. Full-year guidance reflects continued HVAC growth, flat-to-slight D&M growth, and ongoing capacity expansion, supported by a pipeline of acquisition opportunities, the firm says.