Vertiv Holdings price target raised to $29 from $21 at Citi

Citi analyst Andrew Kaplowitz raised the firm’s price target on Vertiv Holdings to $29 from $21 and keeps a Buy rating on the shares after hosting a meeting with management. The analyst believes Vertiv’s operational improvement should continue under CEO Giordano Albertazzi. The company has “resilient/stable” data center end markets, an already high backlog, and what could be a significant future earnings driver in generative artificial intelligence, the analyst tells investors in a research note. The firm sees “good runway” for future earnings growth.