Analyst Jordan Levy from Truist Financial maintained a Buy rating on GE Vernova Inc. (GEV – Research Report) and decreased the price target to $440.00 from $470.00.
Jordan Levy has given his Buy rating due to a combination of factors that suggest a promising future for GE Vernova Inc. Despite a recent decline in stock price, largely attributed to broader market concerns, Levy views this as an opportunity for investors to enter at a favorable point. The company’s strong position in the gas and electrification segments, coupled with its increasing pricing power, supports this positive outlook.
Furthermore, GE Vernova’s strategic partnerships and involvement in the AI infrastructure space, alongside major players like NVIDIA and Microsoft, bolster its growth prospects. The company’s ability to secure significant orders from major clients such as Chevron and NRG further underscores its potential for sustained demand. While there are short-term challenges, Levy emphasizes the importance of focusing on long-term growth drivers, particularly in power and electrification equipment, which are expected to see substantial year-over-year increases.
In another report released today, Jefferies also maintained a Buy rating on the stock with a $413.00 price target.