RBC Capital Upgrades nVent Electric (NVT) to Outperform

RBC Capital analyst Deane Dray upgraded nVent Electric (NYSE: NVT) from Sector Perform to Outperform with a price target of $31.00 (from $28.00).

The analyst comments "We are upgrading nVent from Sector Perform to Outperform as we see the worst of the earnings reset from the short-cycle industrial headwinds behind them now. nVent also looks to have sidestepped any disruptions from the unexpected CFO change last Sept-30. Lastly, we continue to see high takeout prospects as we approach the May two-year spinout anniversary with an attractive 12% relative P/E discount to peers valuation."

For an analyst ratings summary and ratings history on nVent Electric click here. For more ratings news on nVent Electric click here.

Shares of nVent Electric closed at $27.69 yesterday.

You May Also Be Interested In

• RBC Capital Upgrades GEA Group AG (G1A:GR) (GEAGY) to Outperform
• HSBC Upgrades Power Asset Holdings (6:HK) (HGKGF) to Buy
• RBC Capital Downgrades Bucher Industries AG (BUCN:SW) (BCHHF) to Sector Perform