Vertiv Holdings Co. (VRT) PT Raised to $121 at Oppenheimer

Oppenheimer analyst Noah Kaye raised the price target on Vertiv Holdings Co. (NYSE: VRT) to $121.00 (from $115.00) while maintaining a Outperform rating.

The analyst commented: "Shares were down msd Wednesday after VRT beat 3Q24 top/bottom line consensus and guided 4Q24 EBIT/EPS midpoints above the Street, while indicating above-consensus organic growth expectations for FY25. Discontinuation of orders guidance, digested in trading action Wednesday, may contribute to reduced volatility in shares going forward. More fundamentally, pipeline continues to expand as customer migration to high-compute density broadens, and management's liquid cooling growth expectations were constructive, supported by breadth of competencies and rapid capacity expansion. VRT's November SC24 investor event presents a near-term catalyst, including updated long-term financial targets that we anticipate could drive further positive revisions. We raise FY24-26 estimates and increase our PT to $121 from $115."

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