Forgent Power Solutions (NYSE:FPS) Shares Up 3.5% – Still a Buy?

Forgent Power Solutions, Inc. (NYSE:FPS)’s share price shot up 3.5% on Friday . The company traded as high as $34.73 and last traded at $33.6750. 3,624,043 shares traded hands during mid-day trading, a decline of 9% from the average session volume of 4,003,491 shares. The stock had previously closed at $32.54.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FPS. KeyCorp began coverage on shares of Forgent Power Solutions in a report on Monday, March 2nd. They issued an “overweight” rating and a $41.00 price target for the company. JPMorgan Chase & Co. began coverage on shares of Forgent Power Solutions in a report on Monday, March 2nd. They issued an “overweight” rating and a $40.00 price target for the company. Jefferies Financial Group began coverage on shares of Forgent Power Solutions in a research note on Monday, March 2nd. They issued a “buy” rating and a $44.00 price objective on the stock. Barclays began coverage on shares of Forgent Power Solutions in a research note on Monday, March 2nd. They issued an “overweight” rating and a $44.00 price objective on the stock. Finally, TD Cowen began coverage on shares of Forgent Power Solutions in a research note on Monday, March 2nd. They issued a “buy” rating and a $45.00 price objective on the stock. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.40.

Forgent Power Solutions Trading Up 3.5%

The company has a fifty day simple moving average of $32.83.

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.