nVent Electric impresses with growth targets until 2028
The addressable market potential has grown from $60 billion to $130 billion since 2018
Evercore ISI rates the stock at $160 (Outperform)
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At nVent Electric (NVT), I anticipate a successful trend continuation for several reasons. The specialist in electrical connection and protection solutions doubled its medium-term growth targets at the recent investor day and is likely to continue benefiting from strong data center demand. The data center business grew by over 50% last year to more than $1 billion. The company estimates its revenue potential at $1 million per megawatt of newly built data center capacity. Production, particularly for modular liquid cooling systems, has already...
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