BMO Starts Vertiv at Outperform With $329 Target as AI Data Center Demand Lifts 56% YTD
Updated
Updated · CNBC · Oct 5
BMO Starts Vertiv at Outperform With $329 Target as AI Data Center Demand Lifts 56% YTD
3 articles · Updated · CNBC · Oct 5
Summary
$329 is BMO Capital Markets' new price target for Vertiv, implying roughly 30% upside from Friday's close after the firm initiated coverage with an outperform rating.
BMO tied the call to sustained AI data-center buildout, saying Vertiv is a premium play on larger, more power-intensive facilities that need integrated power and thermal management.
85% of Vertiv's revenue comes from data centers, and the company says its $75 billion addressable market is expanding 16% to 18% annually, with data centers growing 18% to 20%.
4,700-plus U.S. data centers and $6 billion of land purchases in the first half of 2026 — up 79% year over year — point to a pipeline that could support further demand.
Vertiv shares have already climbed nearly 56% this year and more than 900% over five years, but BMO said the pullback from May's peak creates a more attractive entry point.