GE Vernova price target raised to $356 from $330 at JPMorgan

JPMorgan analyst Mark Strouse raised the firm’s price target on GE Vernova (GEV) to $356 from $330 and keeps an Overweight rating on the shares ahead of the investor event on December 10. The firm believes expectations are elevated regarding new long-term financial targets expected to be issued at the event. When combined with management’s cadence for setting conservative targets, this could lead to potential disappointment, the analyst tells investors in a research note. However, JPMorgan expects GE Vernova’s commentary to remain very optimistic as it remains a key beneficiary of the U.S. electric load growth theme. It cites higher trading multiples across peers for the target increase.