RBC Capital lowered the firm’s price target on nVent Electric to $57 from $60 and keeps an Outperform rating on the shares. The company reported a solid quality Q3 operating beat with a 4% above-consensus guidance boost, though destocking is expected to continue in Q4 and there are pockets of industrial slowing, the analyst tells investors in a research note. The firm adds however that nVent remains attractively positioned across a number of secular drivers.
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- nVent Electric (NYSE:NVT): Goldman Sachs Analyst Bullish Following Mixed Q3 Results
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