RBC Capital analyst Christopher Dendrinos raised the firm’s price target on GE Vernova (GEV) to $630 from $605 and keeps a Sector Perform rating on the shares. The company’s strong Q3 results and a highly accretive acquisition were overshadowed by broader under performance of hyperscaler infrastructure linked companies, though GE Vernova continues to show a positive rate of change with favorable trends in pricing and demand, while the acquisition of Prolec highlights a broader reinvestment opportunity to recycle positive cash flows back into the business, the analyst tells investors in a research note.
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