Truist raises price target on SPX Technologies

What happened: On May 1, 2026, Argus raised its price target on Viavi Solutions Inc. (VIAV) to $66, citing its core business in network and service enablement. Separately, on April 20, 2026, Truist analyst Jamie Cook raised SPX Technologies' (SPXC) price target to $251, maintaining a Buy rating. SPXC reported strong Q1 2026 results on April 21, 2026, with double-digit revenue and profit growth, and raised its full-year outlook.

Market impact: The bullish sentiment on Viavi and SPXC, driven by their exposure to growing network services and data center demand, has positively impacted the broader data center and network services sector. This includes other data center cooling companies in SPXC's supply chain. The price target increases reflect investors' confidence in these companies' growth prospects.

What to watch next: On May 25, 2026, Viavi Solutions is scheduled to report Q2 2026 earnings, which will provide further insight into its growth trajectory. Additionally, investors should monitor the U.S. trade policy landscape, as changes in Section 232 tariffs, as mentioned in SPXC's Q1 earnings call, could impact its near-term performance. Lastly, keep an eye on SPXC's stock price action around its 50-day moving average, currently at $245, as a break above this level could signal further upside potential.