UBS initates coverage on AI infrastructure companies with mixed ratings
20/11/2025 16:46
** UBS initiates coverage on cos in the industrial data center supply chain, Hubbell HUBB.N, Modine Manufacturing MOD.N and nVent Electric NVT.N with mixed ratings
** Brokerage expects cos average operating profit to grow 50% higher than broader industrial sector
** UBS sees Hubbell’s end-market mix as favorable, with tailwinds from grid modernization and data center spending; expects mid-single-digit organic sales growth in 2026
** Says Modine’s 30% data center exposure, combined with strong AI and cloud demand, supports 15% average annual revenue growth through FY29
** UBS cites strong data center pipeline and rising power demand as key growth drivers for NVT; expects double-digit annual revenue growth through 2027
** Including session's moves, HUBB's shares flat, MOD up 27.4% and NVT up 57.2% YTD
| Companies | Rating | Price target |
| HUBB | Neutral | $450 |
| MOD | Buy | $173 |
| NVT | Buy | $128 |
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