Power Solutions price target raised to $55 from $37 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Power Solutions (PSIX) to $55 from $37 and keeps a Buy rating on the shares after hosting an investor event at Power Solutions’ enclosure facilities in Darien and Beloit, Wisconsin which included a deep dive into its power system enclosure business, meetings with CEO Dino Xykis and other members of the management and operations team, and tours of two manufacturing facilities. Strong demand and execution in its enclosure business have been important components in the significant transformation underway at Power Solutions along with a sharp focus on profitability and debt repayment, Craig-Hallum adds.