Vertiv assumed with Hold from Buy at Jefferies

Jefferies downgraded Vertiv (VRT) to Hold from Buy with a price target of $260, down from $280, after assuming coverage of the name. The firm views consensus out-year margin expectations as elevated, saying they include Vertiv reaching its long-term target a year early. Estimates assume a “smooth” capacity expansion to meet the company’s “outsized” current order book, which carries some risk, the analyst tells investors in a research note. Jefferies believes hyperscaler capex growth slowing in 2027 and beyond could pressure the stock’s multiple.