Morgan Stanley Sees Good Things Ahead for SPX Corporation

In a report published Thursday, Morgan Stanley analyst Nigel Coe reiterated an Overweight rating and $119.00 price target on SPX Corporation SPW. In the report, Morgan Stanley noted, “SPW's I-Day highlighted organizational/cultural transformation initiatives, rather than quantifiable targets. While in early days, evidence of success is encouraging and we see plenty of low hanging fruit. If SPW succeeds, welcome to the next self-help story with SOTP support. Reiterate OW/$119 PT.” SPX Corporation closed on Wednesday at $102.25.