RBC Capital analyst Christopher Dendrinos raised the firm’s price target on GE Vernova (GEV) to $285 from $262 and keeps an Outperform rating on the shares. The company’s Q3 EBITDA and free cash flow results topped expectations with margin beats in Power and Electrification segments, and while its Wind business remains a struggle from limited order demand and continued burn down of the offshore backlog, this likely gets cleaned up next year, the analyst tells investors in a research note. Strong order demand in Power and Electrification gives RBC confidence in GE Vernova’s revenue and margin trajectory, the firm added.
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