Evercore ISI raised the firm’s price target on GE Vernova (GEV) to $323 from $300 and keeps an Outperform rating on the shares. The firm updated its model to reflect Q3 and the company’s guidance, noting that the company now expects 2024 revenue to be towards the higher end of its $34B-$35B guidance with free cash flow trending towards the higher end of its $1.3B-$1.7B view. The firm, which is leaving its 2025 and 2026 adjusted EBITDA estimates unchanged at $3.32B and $4.54B, respectively, notes that its increased price target reflects a higher market multiple.
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