Vertical Research Partners
Vertical Research Partners is an independent equity research firm based in Stamford, Connecticut, covering the industrials and materials sectors. Founder Jeff Sprague is a member of Institutional Investor's All-America Research Team Hall of Fame.
Company history
Jeff Sprague, formerly an electrical equipment and multi-industry analyst at Citigroup, founded the firm in 2010 with Nicole Parent, a former global industrial sector head at Credit Suisse. It added paper and packaging coverage in 2011 and now fields five analyst teams. The firm operates through Vertical Research Partners, LLC and the FINRA-member broker-dealer Vertical Research Securities, Inc.
- 2010Founded in Stamford by Jeff Sprague and Nicole Parent
- 2011Adds paper and packaging coverage
Research
As of 2025 its five analyst teams cover more than 100 stocks across electrical equipment and multi-industry, global aerospace and defense, engineering and infrastructure, building products, and chemicals. Sprague appeared in Institutional Investor's All-America Research Team rankings 18 times through 2010, 11 of them in first place. Stocks are rated Buy, Hold or Sell.
Coverage12M
- Stocks
- 40
- Ratings
- 9
- Price targets
- 46
- Median upside
- +13.9%
- Upgrades
- 1
- Downgrades
- 2
- Initiations
- 6
- Reiterations
- 0
- Targets raised
- 8
- Targets cut
- 4
- Positive44%4
- Neutral56%5
- Negative0%0
Sectors
Ratings
Listing
Activity24M
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 CECelanese Corporation | Sell | $60 |
 SOLSSolstice Advanced Materials Inc. | Buy | $79 |
 BAThe Boeing Company | Buy | $281 |
 IFFInternational Flavors & Fragrances Inc. | Hold | $93 |
 AMEAMETEK, Inc. | Buy | $255 |
 AMRZAmrize Ltd | — | $70 |
 HONAHoneywell Aerospace Inc | Hold | $243 |
 HXLHexcel Corporation | Hold | $65 |
 IEXIDEX Corporation | Buy | $250 |
 ITGITG Inc. | Buy | $20 |
Analysts24M
- Robert StallardBA · HXL · LHX7
- Kevin McCarthyCE · FUL · MAGN4
- Adam BaumgartenFERG · JHX · TREX3
- Jeffrey SpragueHON · IEX · MAIR3
- Jeffrey KauffmanJBHT · UHAL2
- Robert JamiesonRAL · TER2
Recent actions
| Stock | Rating action | Rating | Target | Date |
|---|---|---|---|---|
| TET1 Energy IncTE | Initiate | Hold | $5 | Sep 17 |
| AMETEK, Inc.AME | Initiate | Buy | $255 | Sep 8 |
| IDEX CorporationIEX | Initiate | Buy | $250 | Sep 8 |
| International Flavors & Fragrances Inc.IFF | Downgrade | Hold | $93 | Aug 6 |
| ITG Inc.ITG | Initiate | Buy | $20 | Jul 27 |
| Solstice Advanced Materials Inc.SOLS | Upgrade | Hold →Buy | $90 →$79 | Jul 22 |
Similar coverage12M
References
- About – Vertical Research Partnersverticalresearchpartners.com
- Vertical Research Partners brochure (2025)cdn.prod.website-files.com
- Hall of Fame 45 – Jeffrey Sprague (Institutional Investor)institutionalinvestor.com
- A New Vertical at Vertical (Integrity Research, 2011)integrity-research.com
- Notice of Disclaimers – Vertical Research Partnersverticalresearchpartners.com