TD Cowen raised its price target for Forgent Power Solutions (NYSE:FPS) to $63 from $45, maintaining a Buy rating. The stock trades at $45.95, with a market cap of $15.28 billion.
Forgent reported record orders for Q3 fiscal 2026, with revenue surging 103% YoY to $379 million. The stock is up 73% year-to-date and gained 24% in the past week.
Analysts highlight strong data center leasing activity and Forgent's ability to capture market share with lead time advantaged equipment. The company expects further margin expansion as production volumes increase.
