GE Vernova price target raised to $262 from $246 at RBC Capital

RBC Capital analyst Christopher Dendrinos raised the firm’s price target on GE Vernova (GEV) to $262 from $246 and keeps an Outperform rating on the shares as part of a broader research note previewing Q3 results in the U.S. Clean Energy sector. The current dynamics – including the election cycle, elevated current but expected lower future interest rates, changing trade policies and competitive environments – have produced mixed results, and the investor sentiment “remains bearish” on the space, the analyst tells investors in a research note. RBC also sees limited upside opportunity ahead of the November election and risk that is “largely to the downside” heading into earnings amid limited cash generation upside due to competition among solar installers and project delays for utility scale operators. Offsetting the negatives however could be the company’s strong Power and Electrification performance and gas turbine orders that could be up significantly and will drive shares higher, the firm added.