nVent Electric price target raised to $185 from $140 at KeyBanc

KeyBanc raised the firm’s price target on nVent Electric (NVT) to $185 from $140 and keeps an Overweight rating on the shares. Following the company’s Q1 earnings, although Infrastructure-driven upside has become the norm, the firm was nonetheless impressed by the degree of momentum evident in the strong beat/raise. Looking out, KeyBanc walked away with incremental conviction in its long-term thesis, as the firm sees nVent’s attractive positioning around Data Center/Utility tailwinds driving positive revisions, particularly given its strong visibility paired with ongoing investments that have not yet shown through on sales.