KeyBanc analyst Jeffrey Hammond raised the firm’s price target on nVent Electric (NVT) to $78 from $72 and keeps an Overweight rating on the shares. Following meetings, the firm walked away particularly impressed by the degree of building momentum across nVent’s portfolio, which is supported by uniquely robust Data Center trends paired with benefits from recent deals and future capital allocation opportunities. KeyBanc feels nVent continues to position its Data Solutions business to win share by introducing new products and pulling-through other product with Liquid-Cooling sales.
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