BofA raised the firm’s price target on Vertiv Holdings (VRT) to $130 from $115 and keeps a Buy rating on the shares ahead of the company’s Q3 report due pre-market on Wednesday, October 23. The firm forecasts adjusted EPS of 70c, above consensus of 69c, and $2.0B in revenue, above the $1.98B consensus, adding that it raised the multiple it is applying to its 2025 EBITDA estimate to reflect the strong macro backdrop and projections for capex by cloud service providers Microsoft (MSFT), Amazon (AMZN), Google (GOOGL), and Oracle (ORCL) to rise 56% year-over-year to $155B in 2024.
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Read More on VRT:
- Vertiv Holdings price target raised to $125 from $105 at Evercore ISI
- Vertiv Holdings initiated with a Buy at Jefferies
- Vertiv Holdings call volume above normal and directionally bullish
- Vertiv announces ‘major expansion’ of North American manufacturing operations
- Vertiv Holdings appoints Frank Poncheri as CHRO
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