RBC Capital raised the firm’s price target on nVent Electric to $60 from $57 and keeps an Outperform rating on the shares after its Q2 earnings beat and guidance raise. The analyst notes the company’s positive price/cost and 3 percentage points of growth coming from new product introductions. nVent management has also spotlighted its high-growth data solutions business, with growth capex planned for its market leading liquid cooling technology, the firm tells investors in a research note.
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