Wells Fargo initiated coverage of Vertiv Holdings Co. with an Overweight rating and a $340.00 price target. The target represents considerable upside from the stock’s current trading price.
Wells Fargo’s positive outlook reflects Vertiv’s position in the data center market, which accounts for about 85% of its sales. The firm called Vertiv the sector’s best top-line growth story and expects strong demand and backlog expansion to continue into 2027 and 2028.
Wells Fargo said Vertiv’s premium valuation is justified by its growth prospects. The firm also sees potential for significant upside to margins and earnings per share.