RBC Capital analyst Deane Dray maintains $nVent Electric (NVT.US)$ with a buy rating, and adjusts the target price from $82 to $80.
According to TipRanks data, the analyst has a success rate of 62.3% and a total average return of 13.6% over the past year.
Furthermore, according to the comprehensive report, the opinions of $nVent Electric (NVT.US)$'s main analysts recently are as follows:
Following Q3 earnings, there is an anticipation that prices will not 'crack,' coupled with a strong belief in the management's disciplined approach to capital deployment and efforts to reduce stranded costs.
The company's Q3 results were characterized as 'underwhelming,' marked by an implied 3% operating miss and the transition of Thermal into discontinued operations, coupled with limited growth and a mere reaffirmation of the 2024 midpoint. Despite a significant selloff, the sentiment on the stock remains positive when considering the current valuation.
Note:
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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.
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