Forgent climbs as Bernstein initiates coverage with 'outperform' rating
FPS•Forgent Power Solutions shares rose 5% premarket after Bernstein initiated coverage with an 'outperform' rating and a $48 price target. Bernstein said data centers and the grid, which account for 80% of Forgent's sales, are expected to be among the fastest-growing power markets.
1. Bernstein begins coverage
Bernstein initiated coverage of Forgent Power Solutions with an 'outperform' rating and a $48 price target, indicating about 28% upside. The brokerage said modular data centers could raise Forgent equipment sales by 55% to $2.8 million per megawatt, and that its equipment lead times are 30% to 50% shorter than average.
