Goldman Sachs analyst Joe Ritchie raised the firm’s price target on nVent Electric (NVT) to $140 from $111 and keeps a Buy rating on the shares. nVent Electric’s Q3 exceeded expectations, with EBITA up 6% versus consensus, driven by strong System Protection sales and margin gains in Electrical Connections, the analyst tells investors in a research note. Orders surged about 65%, fueled by a tripling of Data Center demand and a growing backlog exceeding $1.5B. With raised 2025 guidance and accelerating organic growth, the company appears positioned for sustained momentum and potential valuation re-rating relative to peers, Goldman says.
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