Wall Street Has a Positive Opinion on SPX Technologies (SPXC)

​SPX Technologies, Inc. (NYSE:SPXC) is one of the Best Russell 2000 Stocks to Buy Right Now. Wall Street has a positive opinion on the stock, with analysts’ 12-month price target reflecting more than 10.2% upside from the current levels.

​Recently, on January 6, TD Cowen reiterated a Hold rating on SPX Technologies, Inc. (NYSE:SPXC) with a $225 price target. On the same day, Ross Sparenblek from William Blair reiterated a Buy rating on the stock without disclosing any price targets.

Analysts at TD Cowen noted that the recent sell-off in the stock was mainly due to the market’s misinterpretation of Nvidia’s announcement regarding warm-water cooling. The firm highlighted that the news does not mean that SPX’s cooling technology is not useful anymore.

​TD Cowen noted that the cooling towers remain essential for heat rejection in data centers. In fact, the firm sees the news as likely to have a positive effect on the stock in comparison to a negative effect for chiller manufacturers. TD Cowen continues to see SPX Technologies, Inc. (NYSE:SPXC) as favorably placed in the data center cooling landscape.

​SPX Technologies, Inc. (NYSE:SPXC) supplies infrastructure equipment serving the heating, ventilation, cooling, detection, and measurement markets worldwide.

While we acknowledge the potential of SPXC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.