Melius Starts nVent Electric at Buy With $214 Target as AI Data Center Spending Nears $700 Billion
Updated
Updated · CNBC · Jun 16
Melius Starts nVent Electric at Buy With $214 Target as AI Data Center Spending Nears $700 Billion
1 articles · Updated · CNBC · Jun 16
Summary
$214 is Melius Research's new price target for nVent Electric, implying 27% upside from Monday's close after the firm initiated coverage with a buy rating.
Melius said nVent remains a relatively cheap AI-linked industrial despite its rally, arguing Wall Street forecasts are still too low as hyperscalers pour money into data center buildouts.
nVent's appeal centers on data center infrastructure—especially liquid cooling—where Melius highlighted its Nvidia partnership and said the company is more established than peers in a fast-growing niche.
Shares have already climbed about 70% in 2026, and Melius's bullish call broadly matches Wall Street consensus: 14 of 15 analysts tracked by LSEG rate the stock buy or strong buy.