BMO initiates Vertiv coverage with outperform rating and $329 target

BMO Capital Markets has started covering Vertiv Holdings Co. (NYSE: VRT), and it skipped the polite small talk. The firm opened with an Outperform rating and a $329 price target. Vertiv’s stock closed at $252.18 before the call, so BMO’s target implies approximately 30% upside. The initiation, dated October 4, 2026, comes after a recent pullback in the shares. BMO’s view is that the market has already absorbed much of the bad news. What BMO is betting on Vertiv sells power management and thermal cooling products that keep server racks running in AI data centers. BMO’s thesis rests on two pillars: strong data center demand and Vertiv’s market position within that sector. The firm did flag some macroeconomic worries that could weigh on the near term, but argued those concerns appear to be reflected in the price already, given how far the stock has slid recently. The numbers behind the rating Vertiv brought in approximately $10.2 billion in revenue in 2025. It serves data centers, communication networks, and industrial customers, with data centers accounting for 85% of revenue. The company employs about 34,000 people and runs 30 manufacturing facilities alongside roughly 320 service c...