Vertiv Holdings LLC (VRT) stock soared over 6% in the pre-market trading session on Monday, following Morgan Stanley's initiation of coverage on the company with an Overweight rating and a price target of $150. This bullish stance from the investment bank fueled a significant surge in Vertiv's shares, as the $150 price target represents a substantial upside from its current trading levels.
Morgan Stanley's analysts cited Vertiv's strong market position and growth prospects in the data center infrastructure market as key reasons behind their optimistic outlook. With the increasing demand for efficient and sustainable data center solutions driven by the digital transformation and cloud computing trends, the investment bank expects Vertiv to benefit significantly.
The pre-market rally in Vertiv's stock reflects investors' positive reaction to Morgan Stanley's initiation and their confidence in the company's future performance. With an average rating of "Buy" and a mean price target of $144.39 from analysts polled by FactSet, Wall Street seems optimistic about Vertiv's prospects in the rapidly growing data center infrastructure market.
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