12:30 AM EDT, 05/24/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We adjust our 12-month target $15 higher to $115, 37.7x our 2025 EPS outlook of $3.05 (up $0.11; 2024 EPS forecast lifted $0.03 to $2.38), above VRT's long-term historical forward average, warranted by the AI-driven rise in spending on data center infrastructure equipment and services. Our higher multiple corresponds with rising expectations for earnings growth over the next several years, with CFRA forecasting 30%+ expansion in 2024 and 2025 as margins improve along with double digit sales growth, in our view. We view NVDA's recent Q1 results as being a compelling signal for robust data center demand, with Y/Y data center sales surging by an impressive 427%. Established tech firms are funneling billions of dollars into AI infrastructure (data centers) as competition among incumbents heats up.