nVent Electric price target lowered to $75 from $84 at KeyBanc

KeyBanc lowered the firm’s price target on nVent Electric (NVT) to $75 from $84 and keeps an Overweight rating on the shares. Following attending the Data Center Dynamics Connect show, while there is more uncertainty long-term following the introduction of DeepSeek and broader industry commentary is more mixed, the firm gets the sense there has been little change in the long-term Data Center equipment opportunity. Looking out, while acknowledging there remains a fair degree of uncertainty long-term, KeyBanc feels the recent pull-back in the shares provide a more attractive entry point, particularly given that valuation now within the historical averages allow for a positive stance with more reasonable Data Center expectations.