Vertiv Holdings price target raised to $30 from $20 at Evercore ISI

Evercore ISI raised the firm’s price target on Vertiv Holdings to $30 from $20 and keeps an Outperform rating on the shares. The analyst views Vertiv as a “unique way for investors to play a multitude of secular themes” related to data center growth and the increased relevance around thermal/power management and optimization, especially in an artificial intelligence-centric environment. In an upside scenario, Vertiv can sustain mid-to-high teens annual earnings growth to greater than $2.50 per share over next few years, which would represent a $50-plus share price, the analyst tells investors in a research note. The firm has long believed that through organic initiatives, the company can achieve $2.00-plus of earnings per share power and a $40 stock price. The incremental upside is reflective of AI tailwinds that will bolster thermal/liquid cooling solutions for the company, writes Evercore.