TD Cowen analyst Marc Bianchi maintained a Buy rating on GE Vernova Inc. today and set a price target of $685.00.
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Marc Bianchi has given his Buy rating due to a combination of factors, including GE Vernova Inc.’s strong performance and promising outlook. The company reported a significant EBITDA beat and a positive future outlook, which contributed to a notable increase in stock value. Additionally, the successful PJM capacity auction and an upgraded order outlook in Electrification have bolstered confidence in the company’s growth prospects.
GE Vernova’s Power segment has shown robust order growth, with substantial gas turbine orders and a solid backlog. The Electrification segment has also seen an improved booking outlook, indicating strong future demand. Despite challenges in the Wind segment, the company is encouraged by international market wins. These factors, along with an increased price target based on a discounted cash flow analysis, underpin Bianchi’s Buy rating for GE Vernova Inc.
Bianchi covers the Energy sector, focusing on stocks such as NOV, Tenaris SA, and Baker Hughes Company. According to TipRanks, Bianchi has an average return of 1.2% and a 44.80% success rate on recommended stocks.
In another report released yesterday, Morgan Stanley also maintained a Buy rating on the stock with a $675.00 price target.