BUZZ - Bernstein initiates coverage of Forgent with an "Outperform" rating, and the company's stock rises in response.

October 2 - ** Forgent Power Solutions (stock code: FPS.N) shares rose 5% to $39.18 in pre-market trading

** Bernstein initiated coverage of this power distribution equipment designer and manufacturer with an "outperform" rating

** The broker set a price target of $48 for the stock—implying about 28% upside

** Data centers and power grids (accounting for 80% of FPS sales) are expected to become one of the fastest-growing power markets

** Modular data centers are expected to drive FPS equipment sales up 55% to $2.8 million per MW

** Bernstein pointed out that FPS equipment delivery times are 30%-50% shorter than the industry average

** Of 12 brokers, 10 have a “buy” or better rating on the stock, and 2 have a “hold” rating; the median price target is $53—data compiled by LSEG

** FPS shares are up 37% from their February IPO price of $27

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