UPDATE: Stifel Nicolaus Raises PT to $92 on SPX Corporation

Stifel Nicolaus raises its price target on Buy-rated SPX Corporation

from $80 to $92 on broad strength exhibited by end markets. Stifel Nicolaus says, "The organic growth at Flow Control continues at a mid-teens pace into 2012. The growth is broad-based. This compares with SPX's 2012 guidance of about 8%. Thermal is experiencing strong growth in evaporation cooling and HVAC and sees signs of a potential upturn ahead in power generation. The transformer market is recovering and pricing is improving." SPW closed at $77.19 a share on Thursday.