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Investing.com - Stifel has upgraded Spirax Group PLC (LON:SPX) stock rating from Sell to Hold and raised its price target to GBP64.50 from GBP57.50.
The research firm acknowledged missing the recent price movement in Spirax shares but emphasized its focus on future performance rather than past price action.
Stifel indicated that while it doesn’t consider Spirax shares cheap, even when accounting for the company meeting its targets for this year and mid-term, it sees potential upside risk in Watson-Marlow and possibly Electric Thermal Solutions expectations into 2026.
The firm noted market enthusiasm for Spirax’s long-term decarbonization strategy, though it expressed skepticism about valuations returning to previous highs or reaching parity with Halma (LON:HLMA), citing recent volatility at Spirax and sluggish growth prospects in the core Steam Specialties business.
With risks now appearing more balanced, Stifel determined a Hold rating was appropriate for Spirax Group, which also trades over-the-counter as (OTC:SPXSY).
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