Wells Fargo analyst Stephen Tusa made a bold move Friday. He initiated coverage on five industrial names in a single sweep.
Vertiv Holdings was the standout. Tusa gave the data centre power giant a Buy rating with a $340 target. The $94 billion company sits at just 3.5% short interest. That low short position suggests the market is already broadly onside with the AI infrastructure bull case.
The rest of Tusa's sweep was more cautious. Otis Worldwide got the only Sell call, with a $77 target. Parker-Hannifin, Rockwell Automation, and Lennox International all received Hold ratings.
Elsewhere, Costco drew conflicting calls after its latest results. Wells Fargo's Edward Kelly cut his target from $1,000 to $950. RBC's Steven Shemesh held his $1,000 target. The stock carries almost no short interest at 1.7% of float.
Charles River Laboratories got a lift. RBC analyst Ryan Halsted raised his target to $322 from $282, maintaining a Buy. Short interest sits at just 4.7% of float.
Paychex saw a consensus target trim. The average slipped to $113.93 from $117.29. With short interest at 6.1% of float and a near-$36 billion market cap, the payroll giant remains a steady hold for most on Wall Street.
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