Baird Starts Vertiv (VRT) at Outperform
Baird initiates coverage on Vertiv (NYSE: VRT) with a Outperform rating, PT $370.00.
The analyst comments "Initiating with Outperform rating, $370 price target. We like Vertiv as a data center pure-play, whose foundational NVIDIA alignment supports strong innovation visibility (particularly around 800VDC). The company’s $24 billion capital allocation bazooka is also compelling, with expanding VRT’s $/MW and further building out services both attractive uses of capital. Services also add a recurring revenue kicker which should not be overlooked, and Vertiv’s operational flywheel is picking up speed overall (cash is king). Tactically, we’d take advantage of near-term weakness, and see VRT as a core industrial growth holding."
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Shares of Vertiv closed at $303.58 yesterday.