GE Vernova price target raised to $500 from $446 at Goldman Sachs

Goldman Sachs raised the firm’s price target on GE Vernova (GEV) to $500 from $446 and keeps a Buy rating on the shares. The company’s Q4 results and implied a Q1 EBITDA guide was below consensus, but orders were the highlight of the quarter, with Gas Turbine business ending the year with over 20GW in orders and more than doubling y/y, the analyst tells investors in a research note. Power is expected to see continued growth in gas equipment orders, and the firm stance was further “buoyed” by the comments that high margin upgrades could increase by 50% to $3B by the end of the decade, Goldman added.