GE Vernova upgraded to Outperform from Neutral at Baird

Baird analyst Ben Kallo upgraded GE Vernova (GEV) to Outperform from Neutral with a price target of $923, up from $701. The firm believes the energy infrastructure cycle “is still in the early innings” and that GE Vernova is positioned as one of the biggest beneficiaries. Recent channel checks indicate prior overcapacity concerns will not materialize in the near- to intermediate-term, the analyst tells investors in a research note. Baird says GE’s margin expansion “is only beginning.”

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