SPX (SPXC) Receives a Buy from Oppenheimer

By Jason Carr

In a report released today, Bryan Blair from Oppenheimer assigned a Buy rating to SPX (SPXCResearch Report), with a price target of $50.00. The company’s shares closed last Thursday at $41.28.

According to TipRanks.com, Blair is a 4-star analyst with an average return of 5.0% and a 54.7% success rate. Blair covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Watts Water Technologies, and Altra Industrial Motion.

SPX has an analyst consensus of Strong Buy, with a price target consensus of $48.67.

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The company has a one-year high of $53.76 and a one-year low of $25.50. Currently, SPX has an average volume of 242.6K.

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SPX Corp. is the supplier of infrastructure equipment and products. It operates through the following segments: HVAC, Detection and Measurement, and Engineered Solutions. The HVAC segment engineers, designs, manufactures installs and services cooling products for the HVAC and industrial markets, as well as heating and ventilation products for the residential and commercial markets. The Detection & Measurement segment engineers, designs, manufactures and installs underground pipe and cable locators and inspection equipment, bus fare collection systems, communication technologies, and specialty lighting. The Engineered Solutions segment engineers, designs, manufactures, installs and services transformers for the power transmission and distribution market, as well as process cooling equipment and rotating and stationary heat exchangers for the power generation and industrial markets. The company was founded on December 20, 1911 and is headquartered in Charlotte, NC.