Vertiv Holdings upgraded to Outperform from Peer Perform at Wolfe Research

Wolfe Research analyst Nigel Coe upgraded Vertiv Holdings to Outperform from Peer Perform with an $18 price target. Coe sees significant outgrowth potential for Vertiv at a reasonable valuation, the analyst tells investors in a research note. Aggressive backlog build through 2022 provides strong support for above-average sales growth into 2023, and Coe says signs for FY23 are encouraging with DC capex tracking up double digits.