Analyst Marc Bianchi from TD Cowen maintained a Buy rating on GE Vernova Inc. (GEV – Research Report) and decreased the price target to $390.00 from $405.00.
Marc Bianchi’s rating is based on GE Vernova Inc.’s strong performance and strategic positioning in the power and electrification sectors. The company has demonstrated robust execution, as evidenced by its significant power orders, particularly in gas turbines, which exceeded expectations. With a substantial backlog and slot reservations, GE Vernova is well-positioned to capitalize on future demand, especially in the U.S. market, where a large portion of its orders are concentrated.
Furthermore, despite challenges such as tariff costs and inflation, the company maintains a stable growth trajectory. The management’s conservative guidance suggests potential upside, and the company’s efforts to mitigate cost impacts are reflected in its financial outlook. Additionally, the wind segment is expected to reach breakeven EBITDA in the second half of the year, indicating improved operational efficiency. These factors collectively support the Buy rating, with a price target based on a discounted cash flow analysis.
In another report released today, J.P. Morgan also maintained a Buy rating on the stock with a $430.00 price target.