Evercore ISI is adding Vertiv Holdings to the firm’s “Tactical Outperform” list ahead of the company’s Q2 results announcement due before market open on Wednesday, July 24, citing stronger AI/server data points as well as the stock’s underperformance compared to the market since the company’s Q1 print. The firm expects Vertiv to report moderate upside when they announce June-end quarter results as data points surrounding broader data center infrastructure spending, particularly for AI, continued to be strong in Q2 and thinks the stock could move higher on a better than expected print. Evercore has an Outperform rating and $105 price target on Vertiv shares.
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