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.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GEV:
- GE Vernova price target raised to $474 from $411 at Wells Fargo
- GE Vernova price target raised to $470 from $420 at Truist
- GE Vernova price target raised to $471 from $420 at BMO Capital
- GE Vernova price target raised to $436 from $374 at JPMorgan
- GE Vernova price target raised to $437 from $361 at Citi