Vertiv Holdings Co acquired Strategic Thermal Labs to expand its liquid cooling capabilities for high-density AI data centers. The company also secured a partnership with Hut 8 for a large-scale AI data center project in Texas.
RBC Capital increased its price target on Vertiv shares to $435 from $356 and maintained an Outperform rating. The firm highlighted hyper-growth potential from a significant U.S. data center construction backlog and expanded manufacturing capacity.
Separately, Vertiv recommended that shareholders reject an unsolicited mini-tender offer from Tutanota LLC. The company stated the offer contains unfavorable conditions for investors.