Andrew Obin, an analyst from Bank of America Securities, reiterated the Buy rating on Vertiv Holdings. The associated price target was raised to $195.00.
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Andrew Obin has given his Buy rating due to a combination of factors including the strong forecasted growth in Vertiv Holdings’ orders and the overall momentum in the cloud services sector. The company is expected to see a 30% year-over-year increase in orders, reaching $3.0 billion, which is indicative of robust demand in the data center market.
Additionally, the anticipated rise in capital expenditures by major cloud service providers such as Microsoft, Amazon, and Google supports the positive outlook for Vertiv. The company’s strategic positioning in evolving technologies, such as direct current architectures, further strengthens its potential for growth. These factors contribute to the premium valuation of Vertiv’s stock compared to its peers, justifying the Buy rating and the price objective of $195.
In another report released on October 10, Citi also maintained a Buy rating on the stock with a $192.00 price target.
Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of VRT in relation to earlier this year.