Nomura Securities Maintains a 'Neutral' on SPX Corp. (SPW); Thoughts After Management Meeting

Nomura Securities maintains a 'Neutral' on SPX Corp. (NYSE: SPW) price target of $60.00.

Nomura analyst, Shannon O’Callaghan, said, "Flow segment continues to successfully transform the business from a collection of niche component businesses to a global supplier of integrated systems and components. SPX is emerging as one of the surviving and thriving consolidators/ integrators. 3Q flow orders remain solid (YTD +20% through August) and the company has not seen evidence of macro weakness. Transformer unit volumes are trending up, but pricing is stable. In our view, management’s execution of its long-term strategies remains strong."

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 $47.99 yesterday.

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