Vertiv Analysts Raise Their Forecasts Following Strong Earnings
Portfolio Pulse from Avi Kapoor
Vertiv Holdings Co (NYSE:VRT) reported a strong first-quarter financial performance with an 8% Y/Y increase in net sales to $1.64 billion, surpassing the consensus of $1.62 billion. Organic orders rose 60% Y/Y, driven by AI deployment demands. Adjusted EPS was 43 cents, beating the 36 cents consensus. Vertiv raised its 2024 guidance, with revenue now expected to be between $7.54 billion and $7.69 billion, and adjusted EPS between $2.29 and $2.35. Following the announcement, Vertiv's shares rose 6.8% to close at $84.57. Analysts from Oppenheimer and JP Morgan raised their price targets on Vertiv to $98 and $100, respectively.
April 25, 2024 | 1:20 pm
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Vertiv Holdings Co reported strong Q1 results with sales and EPS beating consensus, leading to a raised 2024 guidance and a 6.8% stock price increase. Analysts from Oppenheimer and JP Morgan raised their price targets to $98 and $100, respectively.
Vertiv's strong Q1 performance and positive guidance update directly contribute to investor optimism, reflected in the stock's price surge. Analysts' raised price targets further validate the positive outlook, likely leading to continued short-term bullish sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100