Guggenheim lowered the firm’s price target on GE Vernova (GEV) to $380 from $400 and keeps a Buy rating on the shares following yesterday’s presentation from management. The business updated delivered an improved outlook, especially on free cash flow, but the firm’s numbers “were already aggressive,” so its estimates decline slightly, the analyst tells investors.
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Read More on GEV:
- GE Vernova downgraded to Outperform from Buy at Daiwa
- 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
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