Roth Capital analyst Chip Moore raised the firm's price target on Powell to $333 from $285 and keeps a Buy rating on the shares. The company continues to see accelerating demand overall, with Q2 results reflecting accelerated order activity, punctuated by over $400M in data center when secured post-quarter for the complex, the analyst tells investors in a research note. The fundamentals for Powell's primary markets - energy, utility, commercial and industrial - remain very healthy, with strategic initiatives underway offering attractive growth and margin enhancement potential, Roth added.
