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Analysts at Morgan Stanley increased their target price on shares of SPX (NYSE:SPW) from $120.00 to $121.00 in a research report issued to clients and investors on Thursday. Morgan Stanley’s price objective suggests a potential upside of 11.82% from the company’s current price.

Shares of SPX (NYSE:SPW) traded down 0.70% during mid-day trading on Thursday, hitting $107.45. 177,479 shares of the company’s stock traded hands. SPX has a one year low of $73.15 and a one year high of $111.47. The stock has a 50-day moving average of $107.3 and a 200-day moving average of $102.6. The company has a market cap of $4.708 billion and a P/E ratio of 9.45.

SPX (NYSE:SPW) last announced its earnings results on Wednesday, April 30th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.06. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the company posted $0.20 earnings per share. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. Analysts expect that SPX will post $5.36 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group initiated coverage on shares of SPX in a research note on Wednesday. They set a “hold” rating and a $115.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. downgraded shares of SPX from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 8th. They now have a $112.00 price target on the stock, down previously from $115.00. They noted that the move was a valuation call. Finally, analysts at Credit Suisse raised their price target on shares of SPX from $109.00 to $110.00 in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $106.55.

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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