Vertiv Stock At Record High On Data Center Business

Data center infrastructure provider Vertif (VRT) is on its way to success thanks to building AI capacity. Vertiv stock hit a record high on Friday.

The Westerville, Ohio-based company delivered a beat earnings report on Wednesday. Vertiv’s adjusted earnings rose 63% year over year to $1.24 per share in the third quarter. Its sales rose 29% to $2.68 billion.

Vertiv provides power, cooling and other infrastructure for data centers, communications networks, and commercial and industrial facilities.

In an interview with Investors Business Daily, CEO Giordano Albertazzi said Vertiv had a “very strong” quarter and was on trend for the full year.

“We are very optimistic about the future path (with) $9.5 billion backlog,” he said. “It’s all good.”

On the stock market today, Vertiv shares rose by 1.6% to close at 186.06. Earlier in the regular session on Friday, it reached an all-time high of 188.89.

Business in North America was “very strong,” with sales up 43% year-over-year in the region in the third quarter, Albertazzi said. In the Asia-Pacific region, including China, sales rose 20% in the third quarter, he added.

He added that business in Europe, the Middle East and Africa has been relatively slow. Albertazzi expressed confidence that those markets will catch up as the AI ​​megatrend expands.

Data center business in Europe should accelerate again in the second half of 2026, he said.

Vertiv stock has a higher price target

At least nine Wall Street analysts raised their price targets on Vertiv shares following the company’s third-quarter report.

TD Cowen analyst Michael Elias reiterated a “best” buy rating on Vertiv stock and raised his price target to 210 from 162.

“We view management’s commentary on accelerating data center demand positively and will view weakness as a buying opportunity as we prefer to invest in ‘pick and shovel’ companies given the strong demand environment,” Elias said in a note to clients.

Vertiv stock is on three IBD lists: IBD 50, Big Cap 20, and Leaderboard.

Follow Patrick Seitz on X at IBD_PSeitz for more stories on consumer technology, software, and semiconductor stocks.

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