RBC Capital analyst Deane Dray raised the firm’s price target on nVent Electric to $47 from $41 and keeps an Outperform rating on the shares after its Q4 earnings beat and above-consensus guidance. The company reported its 7th consecutive quarter of double-digit organic revenue growth, paced by 15 percentage points of price and modestly positive volume, the analyst tells investors in a research note. RBC Capital adds that price/cost continues to be a standout positive for nVent Electric.
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Read More on NVT:
- nVent Electric price target raised to $53 from $50 at Barclays
- nVent Electric sees Q1 adjusted EPS 56c-58c, consensus 52c
- nVent Electric sees FY23 adjusted EPS $2.51-$2.61, consensus $2.49
- nVent Electric reports Q4 adjusted EPS 66c, consensus 58c
- nVent Electric downgraded to Sector Weight from Overweight at KeyBanc