Analyst Andrew Obin from Bank of America Securities reiterated a Buy rating on Vertiv Holdings (VRT – Research Report) and increased the price target to $140.00 from $135.00.
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Andrew Obin has given his Buy rating due to a combination of factors including strong demand and improved market visibility. The global data center infrastructure market is expected to grow at a 16% CAGR from 2024 to 2028, with significant growth in thermal and electrical equipment sectors. This positive outlook has led to increased estimates for Vertiv’s financial performance in the coming years.
Obin has raised the price objective for Vertiv to $140, reflecting a premium valuation compared to peers due to expected above-average earnings growth. The company’s strong position in the market, particularly in data center thermal and electrical equipment, positions it well to benefit from the growing complexity and demand in the industry. Additionally, recent developments and collaborations with major players like Nvidia, AMD, and Intel further enhance Vertiv’s prospects, supporting the Buy rating.
In another report released yesterday, Citi also maintained a Buy rating on the stock with a $130.00 price target.