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After losing some value lately, a hammer chart pattern has been formed for SPIRAX GRP PLC (SPXSY), indicating that the stock has found support. This, combined with an upward trend in earnings estimate revisions, could lead to a trend reversal for the stock in the near term.

Panmure Liberum has upgraded Spirax Group PLC (LSE:SPX) to 'buy' from 'hold', arguing that Tuesday's sharp fall in the shares has created an entry point into a company whose earnings momentum is finally turning. Oliver Swift raised his target price to 8,150p from 7,550p, against a closing price of 7,225p, implying upside of about 13%.

Spirax Group plc (SPXSY) Q2 2026 Earnings Call Transcript

Spirax Group PLC (LSE:SPX) saw shares fall 10% on Thursday despite delivering a solid set of first-half results, as investors were left wanting more after the company held its full-year guidance steady rather than upgrading it. The steam engineering specialist reported group revenue up 5% to £863.8 million for the six months to 30 June, comfortably ahead of its own internal plan of 1.5% growth.