Vertiv Holdings price target raised to $80 from $69 at TD Cowen

TD Cowen raised the firm’s price target on Vertiv Holdings to $80 from $69 and keeps a Buy rating on the shares. The firm said they reported strong 1Q results including strong year-over-year order growth and raised its 2024 guidance. Cowen believes management commentary on order growth is conservative, which should create a building backlog as data center operators place orders for shorter lead time equipment closer to facility delivery.