Oppenheimer raised the firm’s price target on GE Vernova (GEV) to $1,303 from $1,139 and keeps an Outperform rating on the shares. The firm says the company continues to benefit from better-than-expected demand as well as significant customer and geographic diversification. Oppenheimer notes Q1 order activity at $18.3B was ahead of its expectation for $13.5B pointing to the depth of demand and the value of its integrated solutions particularly for its power management solutions where it believes GE Vernova delivers differentiated system level efficiency. The firm is encouraged by management’s methodical price increases while continuing to drive operational efficiency.
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