Rosenblatt Starts nVent Electric (NVT) at Buy
- S&P ends modestly lower as rising Treasury yields offset robust retail data
- Electronic Arts (EA) Rebounds on Reaffirmed Guidance Despite Battlefield 2042 Delay, Be Concerned But Not Worried Says Analyst
- U.S. retail sales surprise to upside in strong boost to economy
- Chat Platform Discord Raises $500 Million, Valuation More Than Doubled In Less Than a Year
- Dollar index climbs after U.S. retail sales show surprise rebound
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
Rosenblatt analyst Scott Graham initiates coverage on nVent Electric (NYSE: NVT) with a Buy rating and a price target of $28.00.
The analyst comments "NVT has been public since May 2018, following a spin-off from PNR. Earnings have largely been flat over this period owing to inflation, some execution issues and, more recently, slower short-cycle verticals. The stock has under-performed. But 3Q earnings showed a resilience to the industrial slowdown, attributable to NVT's portfolio quality, upgraded approach to sales, successful productivity and capital allocation. While we expect short-cycle verticals to slow further, we think downside to estimates is fairly limited. Even with the stock's recent bounce we see more upside as NVT still trades at wide discounts to peers. We expect +MSD EPS in 1H20 then an acceleration to +DD."
Shares of nVent Electric closed at $23.97 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Chipotle Mexican Grill (CMG) Gets a New Street-High PT of $2,600 at Piper Sandler
- Anglo American Plc. (AAL:LN) (NGLOY) PT Lowered to GBP36 at Deutsche Bank
- UPDATE: Piper Sandler Starts Lilium N.V. (LILM) at Overweight
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesEarnings, Rosenblatt
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!