Rosenblatt Starts nVent Electric (NVT) at Buy
- Wall St gains with upbeat earnings and forecasts
- Amazon (AMZN) Tops Q2 EPS by $2.90, Revenue Misses, Q3 Guidance Falls Short of Consensus
- Robinhood (HOOD) IPO Opens Flat
- Didi (DIDI) Gains on WSJ Report It Considers Going Private, Company Denies
- Facebook (FB) Tops Profit and Revenue Estimates, But Shares Lower on Warning of Significant Growth Slowdown, Analyst Still Raises PT to a New 'Street High'
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium 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
- Yum! Brands (YUM) PT Raised to $134 at Cowen
- First Look Media, Inc. (FRST) Tops Q2 EPS by 16c
- Cedar Realty Trust (CDR) Posts Q2 EPS of $3.52
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!