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nVent Electric's Data Center Demand Points to Upside in Q2, UBS Says

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nVent Electric (NVT) is well positioned to see potential upside in Q2 organic sales growth, due to data center demand and seasonal tailwinds in non-data center segments, UBS Securities said in a note emailed Thursday.

UBS said it sees organic sales growth of more than 25% and organic order growth above 30% for the quarter.

Data center demand is the primary driver, with UBS projecting Q2 data center orders up roughly 80% year over year -- broadly in line with hyperscaler capital spending trends.

UBS rated the stock as buy, with a price target of $200.

Price: $162.91, Change: $+6.12, Percent Change: +3.90%

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