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