J.P. Morgan said that it came away from the SPX Corporation's SPW annual investor meeting with no change to its thesis and “would view extended weakness as a ‘last chance' at the stock prior to fundamental inflection.”
“Putting aside the noise from a well vetted weaker than consensus 1Q (seasonality, for which still gets us to consensus), this should be the last cut to annual numbers, on which the stock is attractive,” J.P. Morgan writes.
SPX Corporation closed Wednesday at $75.13.
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