GE Vernova price target lowered to $445 from $453 at RBC Capital

RBC Capital lowered the firm’s price target on GE Vernova (GEV) to $445 from $453 and keeps an Outperform rating on the shares. The firm notes that its review of ISO filings suggests that combined cycle gas turbine – CCGT – equipment costs could be up an additional 15% since November, with gas turbines up about 30%, which highlights the strength of market demand and serves as affirmation of the long-term upside potential from price increases, the analyst tells investors in a research note. RBC is boosting its FY26 and FY27 EPS view by 6c and 80c respectively to $11.98 and $15.93 but reduces price target to reflect “market conditions”.