Vertiv Holdings price target raised to $47 from $40 at Citi

Citi raised the firm’s price target on Vertiv Holdings to $47 from $40 and keeps a Buy rating on the shares. The analyst says “largely resilient” demand trends across most industrial end markets should drive the Q3 results of industrial conglomerates that meet expectations and remain supportive of growth outlooks for the remainder of the year and into 2024. The firm expects moderating orders and some channel de-stocking as supply chain conditions continue to ease, but thinks these trends are largely well understood and anticipated by investors.