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Research analysts at FBR Capital Markets lifted their price objective on shares of SPX Corp. (NYSE:SPW) from $82.00 to $98.00 in a report released on Tuesday, ARN reports. The firm currently has a “market perform” rating on the stock. FBR Capital Markets’ price objective points to a potential downside of 6.53% from the company’s current price.

SPX Corp. (NYSE:SPW) opened at 104.85 on Tuesday. SPX Corp. has a one year low of $67.19 and a one year high of $108.21. The stock has a 50-day moving average of $99.92 and a 200-day moving average of $89.1. The company has a market cap of $4.694 billion and a P/E ratio of 421.46.

SPX Corp. (NYSE:SPW) last released its earnings data on Wednesday, February 12th. The company reported $1.85 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.82 by $0.03. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the company posted $1.57 earnings per share. SPX Corp.’s revenue was down 3.4% compared to the same quarter last year. Analysts expect that SPX Corp. will post $5.28 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays raised their price target on shares of SPX Corp. from $108.00 to $115.00 in a research note on Thursday, February 13th. They now have an “overweight” rating on the stock. Separately, analysts at Morgan Stanley reiterated an “overweight” rating on shares of SPX Corp. in a research note on Thursday, February 13th. They now have a $117.00 price target on the stock, up previously from $108.00. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $97.08.

SPX Corporation is a global, multi-industry manufacturer of specialized, engineered solutions with operations in over 35 countries and sales in over 150 countries globally.

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