Wells Fargo analyst Michael Blum has maintained their bullish stance on GEV stock, giving a Buy rating today.
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Michael Blum has given his Buy rating due to a combination of factors that highlight GE Vernova Inc.’s strong growth prospects. The company has demonstrated significant momentum in its Power and Electrification segments, leading to an increase in long-term revenue and margin expectations. This positive outlook is supported by an expansion in Electrification capacity and higher pricing in both Power and Electrification, which are expected to drive substantial revenue growth.
Additionally, GE Vernova’s robust order bookings and backlog, particularly in gas turbines and services, indicate sustained demand. Despite a temporary decline in Electrification orders, the company has maintained a healthy book-to-bill ratio, and its EBITDA margins have shown considerable improvement. While the wind segment faces challenges, the overall growth trajectory and strategic initiatives, such as cost reductions and lean initiatives, reinforce the company’s value creation potential, justifying the raised price target and Buy rating.
In another report released today, Morgan Stanley also reiterated a Buy rating on the stock with a $675.00 price target.