As previously reported, Seaport Research analyst Scott Graham upgraded nVent Electric (NVT) to Buy from Neutral with a $74 price target The firm believes the negative narrative around future curtailments of spending by datacenters on AI is “overdone” as the firm believes the increase in compute and storage demand from DCs will still be significant even if there’s a haircut to AI demand projections. The firm also believes nVent’s other main end-markets, buildings and power, will remain favorable in 2025, the analyst tells investors.
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