Vertiv Holdings

VRT · NYSE

$203.56−$2.52 (−1.22%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $206.08

VRT analyst rating

BuyConsensus of 25 analysts over the last 12 months. 88% rate it a buy.

Strong buy0
Buy22
Hold2
Underperform0
Sell1

12-month price target · 34 analysts

Average $337.50 (+65.8% upside)

Low: $189.88
Now: $203.56
High: $420.00

Upgrades and downgrades

The latest rating actions, newest first

VRT analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Mizuho	Oct 15, 2026	Maintains	Outperform	$300.00 → $280.00	66%
RBC Capital	Oct 14, 2026	Maintains	Outperform	$337.00 → $323.00	43%
Evercore ISI Group	Oct 12, 2026	Maintains	Outperform	$375.00 → $325.00	65%
GLJ Research	Oct 9, 2026	Maintains	Sell	$188.00	64%
GLJ Research	Oct 6, 2026	Initiates	Sell	$188.00	64%
BMO Capital	Oct 5, 2026	Initiates	Outperform	$329.00	27%
Wells Fargo	Sep 25, 2026	Initiates	Overweight	$340.00	60%
GLJ Research	Aug 7, 2026	Upgrade	Hold → Buy	$381.00	64%
RBC Capital	Jul 30, 2026	Maintains	Outperform	$418.00 → $337.00	57%
Citigroup	Jul 30, 2026	Maintains	Buy	$414.00 → $358.00	63%

The case for and against

Updated Oct 14, 2026

Bull case

Vertiv Holdings is well positioned to benefit from the AI data-center buildout because its power, thermal, and services portfolio addresses mission-critical infrastructure needs with high switching costs and a broad installed base. The company has demonstrated strong operating momentum, with backlog reaching $15.0bn, organic orders up 252%, and deferred revenue doubling to $3.63bn, supporting visibility even as reported free cash flow was $1,887mm in FY25 and guided to $2,400-2,600mm in FY26. Management’s raised long-term framework of 20-22% revenue CAGR, 95-100% cash conversion, and a 27% adjusted operating margin target by 2030 underscores durable demand, improving mix, and attractive margin expansion potential.

Bear case

Vertiv Holdings is viewed negatively because its stock already prices in premium 2027-28 earnings and data-center cooling scarcity, yet the company’s own history shows how vulnerable those expectations are when inflation, supply-chain stress, or demand timing turns. The bear case argues that free cash flow is heavily dependent on customer deposits, with 1H26 operating cash flow of $1,867mm versus a $1,823mm deferred-revenue build and adjusted free cash flow of negative $245mm excluding deposits, while 2022 also saw negative $264mm of free cash flow and 5.7x net debt/EBITDA. In addition, accelerating CDU competition and a liquid-cooling supply/demand surplus risk pressure on orders, book-to-bill, and margins just as the market is extrapolating a monopoly-like growth profile.

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