SPX Technologies initiated with an Outperform at Wolfe Research

Wolfe Research initiated coverage of SPX Technologies (SPXC) with an Outperform rating and $199 price target The firm views SPX as an “early-stage compounder,” operating in the “niche” HVAC and detection and measurement markets, with attractive growth opportunities both organically and inorganically. The company is positioned towards the high end of the value chain in engineered niches with plenty of runway for continued bolt-on acquisitions to its existing platforms, the analyst tells investors in a research note.