SPX Technologies: Mixed Signals In The Wake Of Q3 Earnings Report

SPX Technologies reported strong Q3-2026 revenue and asset growth, but shares fell due to HVAC margin compression and reduced 2026 EBITDA guidance. SPXC's medium- and long-term outlook is supported by robust data-center cooling demand, geographic expansion, and growing backlogs in both the HVAC and Detection & Measurement segments. Valuation now appears fair, with SPXC trading near sector medians; forward EV/EBITDA scenarios yield target prices from $145 (bear) to $224 (bull).