GE Vernova price target lowered to $420 from $500 at Argus

Argus lowered the firm’s price target on GE Vernova (GEV) to $420 from $500 but keeps a Buy rating on the shares after its Q1 results and guidance. The firm still sees GE Vernova as a well-run, financially strong company that appears poised to take advantage of megatrends such as energy transition, global electrification, and global decarbonization, the analyst tells investors in a research note. While its recent profit record has been spotty and EPS is a bit murky, a turnaround is underway, and the outlook for near-term growth is promising, Argus adds.