Jefferies raised the firm’s price target on GE Vernova (GEV) to $668 from $658 and keeps a Hold rating on the shares. Ahead of the company’s upcoming analyst day in December, in which the company will provide refreshed FY28 guidance, the analyst notes that management recently remarked that it is “not going to surprise that differently on top line revenue.” Potentially decelerating revenue growth out of FY28 “implies less support for a premium valuation,” argues the analyst who reduced FY25-FY28 revenue and EBITDA forecasts for weaker wind and the announced Electrification software divestiture.
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