On Oct 24, major Wall Street analysts update their ratings for $GE Vernova (GEV.US)$, with price targets ranging from $285 to $330.
Morgan Stanley analyst Andrew Percoco maintains with a buy rating, and adjusts the target price from $256 to $301.
J.P. Morgan analyst Mark Strouse maintains with a buy rating, and sets the target price at $330.
BofA Securities analyst Andrew Obin maintains with a buy rating, and adjusts the target price from $300 to $320.
Barclays analyst Julian Mitchell maintains with a buy rating, and adjusts the target price from $300 to $320.
Evercore analyst James West maintains with a buy rating, and maintains the target price at $323.
Furthermore, according to the comprehensive report, the opinions of $GE Vernova (GEV.US)$'s main analysts recently are as follows:
The firm notes a significant increase in year-over-year bookings within GE Vernova's Power and Electrification segments, highlighting a robust demand environment. The firm also anticipates the potential visibility of a path to approximately a 20% EBITDA margin within the company's Power business.
Following Q3 results, a projection of a swifter earnings trajectory and peers' re-rating higher justify a more elevated multiple applied to future adjusted EBITDA estimates.
The company's Q3 results are perceived to have been strong enough to sustain the recent positive performance of the stock. There is ongoing optimism about demand and pricing within the Power and Electrification segments which is likely to keep investor interest high leading up to the investor event scheduled for December 10. At this event, an update on long-term growth and margin targets is anticipated. It is also noted that the company carries relatively less risk associated with the U.S. election in comparison to others within the same coverage area.
GE Vernova presents a unique blend of robust organic growth within an industry facing capacity constraints, accompanied by significant self-improvement opportunities.
The company's Q3 EBITDA and free cash flow results exceeded expectations, bolstered by better-than-anticipated margins in the Power and Electrification segments. Challenges persist in the Wind business due to limited order demand and the ongoing reduction of the offshore backlog, but this situation is expected to improve by next year. Strong order demand in Power and Electrification underpins confidence in the company's future revenue and margin trajectory.
Here are the latest investment ratings and price targets for $GE Vernova (GEV.US)$ from 8 analysts:
Note:
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