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Investing.com - JPMorgan raised its price target on Vertiv Holdings (NYSE:VRT) Co. (NASDAQ:VERT) to $150.00 from $127.00 on Thursday, while maintaining an Overweight rating on the stock. The company has shown strong momentum, with a 33.33% price return over the past six months and a 14.29% gain year-to-date, according to InvestingPro data.
The price target increase reflects JPMorgan’s assessment of unprecedented demand in the datacenter infrastructure space, which the firm described as unlike any previous demand cycle it has observed.
JPMorgan noted that evidence of this strong demand trend continues to emerge "almost daily" and outweighs any occasional negative data points that have surfaced throughout the year.
The firm characterized the current datacenter infrastructure demand as "undeniable and not up for debate" in its analysis of the sector’s macroeconomic conditions.
JPMorgan also stated that the current datacenter demand cycle "cannot be compared to other themes like HVAC or onshoring/capex" due to its distinctive strength and persistence.
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