JPMorgan says GE Vernova ‘cleaner story’ relative to Siemens Energy

JPMorgan analyst Mark Strouse says GE Vernova (GEV) offers a “cleaner story to the electrification theme” relative to Siemens Energy (SMNEY). The firm keeps an Overweight rating on GE Vernova and Underweight rating Siemens Energy. GE Vernova’s outsized exposure to the U.S. power market in both gas and wind turbines, stronger balance sheet position, and larger installed base in which to drive higher-margin services business “are key points of differentiation,” the analyst tells investors in a research note. JPMorgan says GE Vernova and Siemens Energy are the two largest diversified global power equipment companies that compete with each other in a majority of their businesses.