KeyBanc upgraded nVent Electric to Overweight from Sector Weight with an $80 price target. The recent selloff in the shares provides an attractive entry point, the analyst tells investors in a research note. The firm’s analysis of the data center cooling landscape indicates nVent is well positioned. With thermal needs of data centers changing rapidly, data center liquid cooling will drive “meaningful incremental growth” for nVent, contend KeyBanc. It now views the company as one of the most compelling opportunities within its coverage.
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