TD Cowen Initiates Coverage on Forgent Power Solutions (NYSE:FPS)

Equities research analysts at TD Cowen began coverage on shares of Forgent Power Solutions (NYSE:FPS) in a research report issued to clients and investors on Monday. The brokerage set a “buy” rating and a $45.00 price target on the stock. TD Cowen’s price objective would suggest a potential upside of 31.85% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. Barclays assumed coverage on shares of Forgent Power Solutions in a report on Monday. They set an “overweight” rating and a $44.00 price objective for the company. Oppenheimer started coverage on Forgent Power Solutions in a research note on Monday. They set an “outperform” rating and a $42.00 price target for the company. KeyCorp started coverage on Forgent Power Solutions in a report on Monday. They set an “overweight” rating and a $41.00 price objective on the stock. Wall Street Zen raised shares of Forgent Power Solutions to a “hold” rating in a report on Monday, February 16th. Finally, The Goldman Sachs Group started coverage on shares of Forgent Power Solutions in a report on Monday. They set a “buy” rating and a $48.00 price target on the stock. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Forgent Power Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $43.30.

Forgent Power Solutions Price Performance

NYSE:FPS traded down $0.26 during trading hours on Monday, hitting $34.13. 231,091 shares of the company’s stock traded hands, compared to its average volume of 3,084,000. Forgent Power Solutions has a 52 week low of $25.95 and a 52 week high of $35.80.

About Forgent Power Solutions

We are a leading designer and manufacturer of electrical distribution equipment used in data centers, the power grid and energy-intensive industrial facilities. Demand for our products is growing rapidly as (i) companies accelerate investment in data centers to meet the computational requirements for cloud computing and AI, (ii) independent power producers build new generation capacity to satisfy rising electricity demand, (iii) utilities upgrade and expand T&D infrastructure to address rapid load growth and (iv) manufacturers reshore their factories to secure their supply chains and mitigate the impact of tariffs.