Bernstein SocGen Group reiterated its Outperform rating on nVent Electric and maintained its $229.00 price target. Going into the third quarter, the firm named nVent its top pick across its entire coverage universe.
Bernstein’s positive view rests on its belief that investors are underestimating the earnings potential of nVent’s liquid cooling solutions. The analysts expect liquid cooling to grow at a high rate over the next 3–5 years as it gains share in data center deployments, creating a major growth opportunity for the company.