nVent Electric price target raised to $117 from $102 at RBC Capital

RBC Capital analyst Deane Dray raised the firm’s price target on nVent Electric (NVT) to $117 from $102 and keeps an Outperform rating on the shares as part of a broader research note previewing Q3 earnings in Industrials space. Multiple multi-year sector drivers – like electrification, reshoring, and datacenter/AI – and a Fed ease cycle should fuel continued mid-cycle growth and strong earnings visibility, while tariffs remain a fluid but manageable headwind for now, the analyst tells investors in a research note. Datacenter remains the strongest vertical in the sector and muni water the steadiest, while residential construction, HVAC, and chemicals are the weakest end markets, the firm added.