Forgent Power Solutions (NYSE:FPS) Hits New 12-Month High – Still a Buy?

Forgent Power Solutions, Inc. (NYSE:FPS) shares reached a new 52-week high on Tuesday . The stock traded as high as $37.14 and last traded at $36.7580, with a volume of 1264256 shares changing hands. The stock had previously closed at $34.48.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on FPS shares. Jefferies Financial Group began coverage on shares of Forgent Power Solutions in a research report on Monday, March 2nd. They set a “buy” rating and a $44.00 price objective on the stock. Wall Street Zen upgraded Forgent Power Solutions to a “hold” rating in a report on Monday, February 16th. Morgan Stanley started coverage on Forgent Power Solutions in a research note on Monday, March 2nd. They issued an “equal weight” rating and a $38.00 price objective for the company. KeyCorp initiated coverage on Forgent Power Solutions in a research report on Monday, March 2nd. They set an “overweight” rating and a $41.00 target price on the stock. Finally, Wolfe Research set a $48.00 target price on Forgent Power Solutions in a report on Monday, March 2nd. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.30.

Forgent Power Solutions Stock Up 7.2%

Forgent Power Solutions Company Profile

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.