GLJ Research starts Vertiv stock at Sell with USD 188 target

Published on 10/07/2026 at 15:39 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter revenue rose 24.10 percent to USD 3.27 billion. Vertiv stock traded at EUR 218.63 on October 7, 2026, down 2.87 percent.

Vertiv, US92537N1081, Illustration mit AI erstellt.

Vertiv stock was trading at EUR 218.63 at Lang & Schwarz on October 7, 2026 at 3:33 p.m. CEST, down 2.87 percent from the EUR 225.10 prior close. GLJ Research initiated coverage with a Sell rating and a USD 188.00 price target in a note dated October 6, 2026, according to Markets Insider.

The second quarter expanded margins

Vertiv generated USD 3.27 billion of revenue in the second quarter of 2026, up 24.10 percent from USD 2.64 billion in the second quarter of 2025, according to EarningsStory. Operating income increased 44.20 percent to USD 637.90 million from USD 442.40 million, while net income rose 53.50 percent to USD 497.80 million.

The comparison matters because operating income grew faster than revenue during the period ended June 30, 2026. That spread points to operating leverage and mix benefits, but it does not remove the execution risks attached to large data-center infrastructure projects.

Cash conversion carries a warning

Six-month operating cash flow reached USD 1.87 billion in the first half of 2026, compared with USD 626.20 million in the first half of 2025, a 198.10 percent increase, EarningsStory reported. Accounts receivable also climbed to USD 3.75 billion from USD 2.83 billion, rising 32.50 percent and outpacing revenue growth.

The resulting investor question is cash quality rather than demand alone. Deferred revenue helped fund the cash-flow increase, so future quarters will show whether the conversion remains durable as receivables and project timing normalize.

The bearish target widens the debate

GLJ Research said its 2027 adjusted earnings before interest, taxes, depreciation and amortization estimate was 6.00 percent below the broader forecast and warned that liquid-cooling supply could move into surplus in 2028, according to Markets Insider. The USD 188.00 target is 25.82 percent below the USD 253.62 reported close used in the analyst comparison.

That bearish view contrasts with Vertiv's second-quarter growth profile. Revenue and operating income both accelerated year over year, while the balance-sheet figures show why analysts are separating structural demand from working-capital timing.

Vertiv stock tests its prior close

At EUR 218.63, the Lang & Schwarz quote on October 7, 2026 at 3:33 p.m. CEST stood below its EUR 225.10 prior close, with the daily change at minus 2.87 percent. Vertiv's primary listing is on the NYSE, where the finance snapshot showed USD 242.60 on October 7, 2026, while the 52-week range was USD 147.82 to USD 379.94.

The further course of trading is shown by the continuously updated real-time quote of Vertiv stock.