Vertiv Holdings Co. (NYSE:VRT) is one of the 10 Data Center Cooling Companies to Invest In. Citigroup issued a significant update on Vertiv Holdings Co. (NYSE:VRT) on December 8. While increasing the price target from $198 to $220, the financial services firm maintained its Buy rating on the stock. This rating was issued by the analyst Andrew Kaplowitz. The newly assigned target price represents an 11.11% upside from current levels. The upward adjustment to the target price indicates that Citigroup still sees potential in Vertiv Holdings Co. (NYSE:VRT).
Vertiv Holdings Co. (NYSE:VRT) completed its acquisition of PurgeRite on December 4th for approximately $1 billion. This acquisition aims to improve the company’s thermal management services capabilities, mainly for AI and high-density computing data centers. The integration is intended to enhance the equipment efficiency and heat transfer and reduce the downtime.
The deal positions Vertiv Holdings Co. (NYSE:VRT) well to capture the emerging market opportunities. Analysts project this year’s revenue at around 28%, similar to the previous year’s 28.76% growth.
Gio Albertazzi, CEO at Vertiv, explained how this acquisition is beneficial for the company:
“PurgeRite’s specialized expertise in fluid management services complements our existing portfolio and enhances our ability to provide end-to-end product and service support for customers’ high-density computing and AI applications.”
Vertiv Holdings Co. (NYSE:VRT) operates as a manufacturer, designer, and servicer of the critical digital infrastructure technology for the communication networks, data centers, and commercial and industrial environments. It provides thermal management products, AC and DC power management products, modular solutions, switchgear and busbar products, management systems, and integrated rack systems.
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Disclosure: None. This article is originally published at Insider Monkey.
