Crawford United Corporation to be Sold to SPX Technologies for $83.42 per Share

Truist raised the firm's price target on SPX Technologies to $216 from $215 and keeps a Hold rating on the shares as part of a broader research note previewing Machinery,. Infrastructure Services, and Multi-Industry industrial names in 2026. The firm continues to favor the broader power markets including Transmission & Distribution and Power Generation supported by data centers / AI, though it also believes that investors will be looking for cracks that demand has peaked, and as such backlog growth will be a major focus, particularly as capacity comes online and given the risks associated with hyperscalers, the analyst tells investors in a research note. Construction will be a bright spot with channel destock over and green shoots emerging, supported by Deere's guide for Construction & Forestry up 10% in 2026, and while North America truck orders continue to underwhelm, orders are at a cyclical trough and will improve throughout 2026 as EPA 2027 moves ahead, creating some level of pre-buy, the firm added.

B. Riley analyst Jeff Van Sinderen raised the firm's price target on SPX Technologies (SPXC) to $244 from $225 and keeps a Buy rating on the shares. SPX plans to acquire Crawford United's (CRAWA) commercial air handling and coil businesses, broadening its HVAC portfolio with minimal customer overlap and adding well-regarded brands under the Ingenia umbrella, the analyst tells investors in a research note. The deal is expected to support modest growth in 2026 as SPX continues pursuing acquisitions alongside steady organic expansion, B. Riley says.

Oppenheimer raised the firm's price target on SPX Technologies to $240 from $220 and keeps an Outperform rating on the shares after hosting investor meetings with the company's CEO Gene Lowe and CFO Mark Carano, coming away incrementally confident in the team's 2026 setup and continued flywheel value-creation prospects. Combining supportive end-market demand and technology-driven share gains, the firm views both segments as well positioned for mid-single digit-plus organic growth for the foreseeable future.

TD Cowen analyst Joe Giordano initiated coverage of SPX Technologies with a Hold rating and $225 price target. The company's portfolio is positioned to capitalize on "multiple durable trends," including advanced cooling and defense technology, the analyst tells investors in a research note. However, the firm views SPX's current valuation as elevated.