Siemens Energy pre-report could be positive for GE Vernova, says RBC

RBC Capital reiterated an Outperform rating and $445 price target on GE Vernova (GEV), saying that strong quarterly order flow and guidance increase from Siemens Energy (SMNEY) could be a positive read-through for GE Vernova. Historically, order flows for both companies have been directionally correlated, and the firm believes this suggests that GE Vernova is also positioned to report strong orders, the analyst tells investors in a research note. The firm added that it believes the message from GE Vernova when it reports next week will be bullish, highlighted by some concerns around the long-term demand potential for gas turbines.