HSBC analyst Sean McLoughlin raised the firm’s price target on GE Vernova (GEV) to $580 from $570 and keeps a Hold rating on the shares. The Trump administration’s intervention in offshore wind is high, but in onshore a newly opened window for developers to lock in tax credits to 2030 has the potential to drive a rebound in demand from current low levels, the analyst tells investors. Vestas and GE Vernova stand to benefit most from any U.S. onshore demand rebound, the analyst contends.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GEV:
- Trump Weekly: Cracker Barrel controversy, high-profile firings, Intel stake
- Trump Trade: U.S. blocking development of offshore wind farms
- U.S. to block development of another offshore wind farm, Bloomberg says
- Charged: Eversource dips as Trump says no more ‘wind or farmer destroying solar’
- Orsted announces work stop order for U.S. wind farm