Deutsche Bank Downgrades SPX Corp. (SPW) to Hold

March 25, 2013 7:15 AM EDT
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Price: $49.44 +2.25%

Rating Summary:
    11 Buy, 10 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Deutsche Bank downgraded SPX Corp. (NYSE: SPW) from Buy to Hold bur raised its price target from $81 to $90.

The analyst comments, "We are downgrading SPX to Hold from Buy. In turn, we are lowering our EPS forecast estimates by 5 cents in 2013 to $5.00 and by 25 cents in 2014 to $6.00. While we are revising our price target higher to $90 from $81 –
consistent with our updated valuation framework for our multi-industry coverage universe – this upside seems insufficient to justify a continued purchase recommendation."

For an analyst ratings summary and ratings history on SPX Corp. click here. For more ratings news on SPX Corp. click here.

Shares of SPX Corp. closed at $81.17 yesterday.

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