Nomura Securities Maintains a 'Neutral' on SPX Corp. (SPW); Transformer Momentum Continuing
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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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Nomura Securities maintains a 'Neutral' on SPX Corp. (NYSE: SPW) price target of $69.00.
Analyst, Shannon O'Callaghan, said, "SPX hosted an analyst meeting and plant tour yesterday for its Waukesha transformer business in Waukesha, WI. The business continues to build momentum in the early innings of an investment cycle that began around one year ago. Other drivers for SPX are taking some time. The approval of the Service Solutions sale is taking longer than expected, which is keeping a pause on share repurchase, and ClydeU margins are still working their way through a tough 2012 with no quick fix. Overall, we think SPX is heading in the right direction, but results could take time."
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 $65.60 yesterday.
Analyst, Shannon O'Callaghan, said, "SPX hosted an analyst meeting and plant tour yesterday for its Waukesha transformer business in Waukesha, WI. The business continues to build momentum in the early innings of an investment cycle that began around one year ago. Other drivers for SPX are taking some time. The approval of the Service Solutions sale is taking longer than expected, which is keeping a pause on share repurchase, and ClydeU margins are still working their way through a tough 2012 with no quick fix. Overall, we think SPX is heading in the right direction, but results could take time."
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 $65.60 yesterday.
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