FBR Capital Maintains an 'Outperform' on SPX Corp. (SPW); Pickup in Late-Cycle Orders and Backlog Suggests Improving Outlook
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Price: $49.44 +2.25%
Rating Summary:
10 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
10 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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FBR Capital maintains an 'Outperform' on SPX Corp. (NYSE: SPW), PT $92.
FBR analyst says, "We like SPX’s increasingly attractive mid- to late-cycle exposures (about 67% of revenues) in the global power and fluid markets, where we see potential for significant outperformance in shares over the next 12 to 18 months as revenues and margins in the company’s beatendown businesses in Transformers and Flow start coming back. Beyond just end-market recovery, we see SPX as a much better managed company compared to the last cycle with its more focused portfolio, sizeable 25% emerging-market exposure, and increasing emphasis on new products/innovation. We also see positives in the company’s significant restructuring actions that have reduced head count by 15% and should drive margins above the previous cycle peak of 13.5% as revenue recovery takes hold."
For more ratings news on SPX Corp. click here and for the rating history of SPX Corp. click here.
Shares of SPX Corp. closed at $83.81 yesterday.
FBR analyst says, "We like SPX’s increasingly attractive mid- to late-cycle exposures (about 67% of revenues) in the global power and fluid markets, where we see potential for significant outperformance in shares over the next 12 to 18 months as revenues and margins in the company’s beatendown businesses in Transformers and Flow start coming back. Beyond just end-market recovery, we see SPX as a much better managed company compared to the last cycle with its more focused portfolio, sizeable 25% emerging-market exposure, and increasing emphasis on new products/innovation. We also see positives in the company’s significant restructuring actions that have reduced head count by 15% and should drive margins above the previous cycle peak of 13.5% as revenue recovery takes hold."
For more ratings news on SPX Corp. click here and for the rating history of SPX Corp. click here.
Shares of SPX Corp. closed at $83.81 yesterday.
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