According to BMO Capital Markets, Vertiv’s stock price will continue to rise due to demand for artificial intelligence data centers. The company initiated coverage of the stock on Sunday with an outperform rating and a $329 price target, implying an upside of about 30% from Friday’s closing price. The company is responsible for digital infrastructure and hardware for data centers and other facilities, and data centers account for about 85% of its revenue, said analyst Daniel DiCicco. He calls Vertiv a “premium data center business” that has already grown more than 900% in the past five years. He said the stock has fallen back from its May highs and now represents an attractive entry point. “Vertiv is well-positioned as data centers grow in size and strength (more power to the racks) and demand for resiliency and speed to deployment continues to increase,” DiCicco wrote in a note to customers. VRT YTD Mountain Vertiv YTD YTD There are more than 4,700 data centers in the United States, and the number continues to grow. About $6 billion was spent in the first half of 2026 to buy land in the United States to build future data centers, according to commercial real estate firm Avison Young. The company said this was a 79% increase compared to last year. According to DiCicco, Vertiv’s management estimates that the company’s total addressable market of $75 billion is growing 16% to 18% annually, and data centers are growing 18% to 20% annually. However, he noted that the company’s long-term growth forecasts could be conservative. Additionally, Vertiv has an array of products. DiCicco noted that current rates for data center content range from $3.25 to $3.75 per megawatt, but innovation, standardization, service growth, and integrated systems could drive this rate higher. “VRT positions itself as one of the few providers that can offer a fully integrated power and thermal management solution across the data center,” he said. Vertiv stock is up nearly 56% since the beginning of the year. —CNBC’s Tobias Burns contributed reporting.
