BofA raised the firm’s price target on Vertiv Holdings to $90 from $80 and keeps a Buy rating on the shares. The firm has revisited its forecast for the data center infrastructure market based on BofA’s forecast for artificial intelligence server shipments and Schneider Electric’s revised estimates for AI electricity consumption and its estimate for the incremental AI benefit in 2025 is 15% higher, notes the analyst, who now forecasts a 14% compound annual growth rate, or CAGR, for the market in 2023 to 2026. The firm also raised its 2023-26 revenue CAGR estimate for Vertiv to 12% from 11% previously.
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