Oppenheimer Reiterates Outperform on Forgent Power Solutions, Maintains $60 Price Target
Oppenheimer analyst Noah Kaye reiterates Forgent Power Solutions (NYSE:FPS) with a Outperform and maintains $60 price target.
Stocks · News reference
Stocks in focus: Forgent reports earnings; Dave & Buster’s and Children’s Place missed estimates, while Vera Bradley and Trip.com await results.
Reference Details
Poisar stores the source's headline, summary and market tags for reference. Reporting and full article text remain with the original publisher.
Keep reading
Oppenheimer analyst Noah Kaye reiterates Forgent Power Solutions (NYSE:FPS) with a Outperform and maintains $60 price target.
Crude tumbles 3.6% on a Saudi pipeline restart, easing yields and lifting chips, while the Fed prepares its first rate hike in nearly three years.
Forgent Power Solutions (FPS) reported 94% revenue growth in Q4 fiscal 2026 to $462 million, driven by custom products and Powertrain Solutions for data center customers. The company achieved record bookings of $1.50 billion and backlog of $3.02 billion with a 3.3x book-to-bill ratio. FPS projects fiscal 2027 revenues of $2.4-$2.6 billion with 76% growth and is expanding capacity with a $35 million Powertrain Solutions facility investment.
Several stocks showed significant movement following corporate announcements. Forgent Power Solutions jumped 9.5% after beating earnings estimates, while Skyworks Solutions surged 13.6% on optimism about a Qorvo merger closing by late September or October. Qorvo also gained 9.3%. However, Axon Enterprise slipped 9.8% following plans for a $1 billion debt issuance. Valero Energy rose 3.7% as crude oil prices climbed amid Middle East supply concerns.
Gainers Vera Bradley (NASDAQ:VRA) stock moved upwards by 30.8% to $3.98 during Tuesday's regular session. The company's market cap stands at $86.4 million. The company's, Q2 earnings came out today. Jinxin
Dave & Buster’s missed Q2 FY26 earnings and revenue estimates; shares fell 12.3%. Analysts cut price targets to $9-$13.