Forgent Power Solutions (NYSE:FPS) Shares Gap Up – Here’s What Happened

Forgent Power Solutions, Inc. (NYSE:FPS)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $34.27, but opened at $35.77. Forgent Power Solutions shares last traded at $35.62, with a volume of 1,292,957 shares.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on FPS shares. Barclays assumed coverage on Forgent Power Solutions in a report on Monday. They issued an “overweight” rating and a $44.00 target price on the stock. Bank of America began coverage on shares of Forgent Power Solutions in a research report on Monday. They set a “buy” rating and a $48.00 price objective on the stock. JPMorgan Chase & Co. started coverage on shares of Forgent Power Solutions in a research report on Monday. They issued an “overweight” rating and a $40.00 target price for the company. Wolfe Research set a $48.00 target price on shares of Forgent Power Solutions in a research note on Monday. Finally, The Goldman Sachs Group started coverage on shares of Forgent Power Solutions in a research note on Monday. They issued a “buy” rating and a $48.00 price target on the stock. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Forgent Power Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $43.30.

Forgent Power Solutions Stock Up 1.3%

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.