Bank of America Provides Color on SPX

Bank of America provided color on SPX (NYSE: SPW). In a research report published today, Bank of America commented on the company's expansion into the emerging markets.

In the report, Bank of America states, “SPX has made substantial penetration gains into emerging markets (EM) in recent years – a fact we believe many investors may not fully appreciate. Moreover, SPX's future growth opportunities in emerging markets appear to be relatively predictable compared to other industrial companies that are more tied to spending on infrastructure programs.”

At the moment, Bank of America has a Buy rating and a price target of $100 placed on the company's stock. On Tuesday, SPX lost 0.77% of its value to finish the day at $84.55.