Andrew Obin, an analyst from Bank of America Securities, reiterated the Buy rating on GE Vernova Inc.. The associated price target was raised to $620.00.
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Andrew Obin has given his Buy rating due to a combination of factors including the strong performance and future potential of GE Vernova Inc. The company is expected to report robust orders in the second quarter of 2025, particularly driven by its Gas Power segment. This anticipated performance is reflected in the forecasted orders of $11.8 billion, which surpasses the consensus estimate by 6%.
Additionally, GE Vernova’s shares have significantly outperformed the broader market, rising 67% year-to-date compared to the S&P 500’s 7% increase. The company’s forward estimates have improved, with notable growth in projected EBITDA and EPS for 2027. Despite the current high trading multiples, Obin justifies a premium valuation due to the company’s superior earnings growth and margin trajectory compared to peers. Furthermore, the reduction in US tariffs on Chinese imports and the potential rush in wind orders due to expiring tax credits are seen as positive factors for the company’s future performance.
In another report released today, BMO Capital also reiterated a Buy rating on the stock with a $561.17 price target.