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.
Claim 55% Off TipRanks
Forget margin or options. Here's how the pros trade GEVPublished 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