Baird analyst Ben Kallo downgraded GE Vernova (GEV) to Neutral from Outperform with a price target of $649, down from $816. The firm sees power capacity oversupply fears “shifting sentiment” on GE Vernova. The company’s competitor announcements are attracting attention, the analyst tells investors in a research note. Baird says oversupply fears may outweigh GE Vernova’s ability to exceed estimates in the near-term.
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