UPDATE: Goldman Sachs Resumes Coverage on SPX Corporation with Buy Rating, $86 PT on Portfolio Shift, Assets Execution

In a report published Monday, Goldman Sachs analyst Samuel H. Eisner resumed coverage on

with a Buy rating and $86.00 price target. In the report, Goldman Sachs noted, “We resume coverage of SPW at Buy with an $86, 12-month price target. In our opinion, a significant shift in the company's portfolio in the last five years to more secular growth markets in flow is presently being discounted by the market. A renewed focus on internal improvements should bolster operating performance in the medium-term. Further, SPW has rewarded shareholders with a significant emphasis on social contact which we believe provides a near-term ballast for shares. Although modest headwinds remain in acute end markets, we believe that the current stabilized portfolio and execution on the company's current underperforming assets should be the core focus.” SPX Corporation closed on Friday at $71.98.