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KeyBanc Maintains NVent Electric(NVT.US) With Buy Rating, Maintains Target Price $84

Futu News ·  Nov 4 09:31  · Ratings

KeyBanc analyst Jeffrey Hammond maintains $nVent Electric (NVT.US)$ with a buy rating, and maintains the target price at $84.

According to TipRanks data, the analyst has a success rate of 57.9% and a total average return of 10.0% over the past year.

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Furthermore, according to the comprehensive report, the opinions of $nVent Electric (NVT.US)$'s main analysts recently are as follows:

  • Post-Q3 earnings, there is an anticipation that prices will hold steady, coupled with a confidence in the management's disciplined approach to capital deployment and efforts to reduce stranded costs.

  • The company's Q3 outcomes were not as impressive as expected, accompanied by an approximate 3% operational shortfall, uncertainties, and adjustments with Thermal classified under discontinued operations, alongside tepid growth with a merely reaffirmed 2024 midpoint. Despite these factors, the recent significant drop in stock price is viewed as excessive, and there remains a positive outlook on the stock based on its current valuation.

Note:

TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.

Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.

TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
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