As previously reported, Guggenheim analyst Joseph Osha downgraded GE Vernova (GEV) to Neutral from Buy and removed the firm’s prior $380 price target The revised rating reflects not only the stock’s strong recent performance, but also the firm’s belief that the pace of upward revisions in GE Vernova’s financial model is likely to slow, which makes additional upside to valuation based on EBITDA and free cash flow “less likely,” the analyst tells investors. The stock now appears fairly valued, the analyst added.
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