nVent Electric price target raised to $72 from $60 at KeyBanc

KeyBanc raised the firm’s price target on nVent Electric (NVT) to $72 from $60 and keeps an Overweight rating on the shares. Following the company’s Q1 earnings, despite the growing macro uncertainty, the firm walked away encouraged by accelerating underlying demand and order momentum, particularly from Data Center/Utility. While it remains a dynamic environment, KeyBanc feels Electrification trends are some of the more durable on its list. As such, the firm continues to see a positive risk/reward as the company continues to execute on capital deployment and compelling organic opportunities.