Daiwa analyst Dennis Ip downgraded GE Vernova (GEV) to Outperform from Buy with a price target of $348, up from $336. The company’s 2028 guidance is lower than expected, but is “likely a low-end forecast,” the analyst tells investors in a research note. The firm reduced earnings estimates through 2028 to incorporate GE Vernova’s updated outlook. It downgraded the shares, seeing yesterday’s investor update as a “slight miss” and expects limited share catalysts in the short term.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GEV:
- GE Vernova price target raised to $367 from $356 at JPMorgan
- GE Vernova backs FY24 revenue view of trending to higher end of $34B-$35B
- GE Vernova sees FY25 revenue $36B-$37B, consensus $37.26B
- GE Vernova approves initial $6B share repurchase authorization
- GE Vernova sees roughly $45B of revenue by 2028