5 Best Industrial Stocks Benefiting from the Data Center Boom

In this article, we will look at the 5 Best Industrial Stocks Benefiting from the Data Center Boom. Please visit the 10 Best Industrial Stocks Benefiting from the Data Center Boom if you’d like to see an extended list and methodology behind it.

5. Carrier Global Corporation (NYSE:CARR)

Potential Upside: 12.97%

Number of Hedge Fund Holders: 59

Carrier Global Corporation (NYSE:CARR) is one of the best industrial stocks benefiting from the data center boom. On May 5, Argus Research raised its price target for Carrier Global to $75 from $72, while maintaining a Buy rating on the shares, according to a report by Investing.com.

The research firm attributed the higher price target to the valuation and opportunities from the company’s recent portfolio alignment. Argus highlighted the company’s potential for data center growth as well as the recent boost in share buybacks.

On April 30, Carrier Global reported a 500% increase in data center orders in the first quarter of the year, which resulted in a 35% jump in global Commercial HVAC orders.

Earlier, on April 29, the company announced that its venture group, Carrier Ventures, expanded its investment in ZutaCore, a provider of direct-to-chip, waterless liquid-cooling solutions.

Carrier Vice President for Global Data Centers, Christian Senu, emphasized that AI is reshaping data center architecture, with thermal management emerging as a key constraint on scaling. He added:

“This investment strengthens our ability to deliver advanced liquid cooling solutions that help customers scale high-density AI infrastructure efficiently and with improved energy performance for today’s chip thermal densities and next-generation architectures.”

Based on 29 analyst ratings compiled by CNN, Carrier Global has an average price rating of $75.50, a 12.97% increase from the current price of $66.83.

Carrier Global Corporation (NYSE:CARR) is a global leader in intelligent climate and energy solutions. It offers cutting-edge advancements in climate solutions, including temperature control and air quality.