BUZZ-Jefferies raises GE Vernova PT on growing power infrastructure demand; shares rise

Reuters12-22 19:25
BUZZ-Jefferies raises <a href="https://laohu8.com/S/GEV">GE Vernova</a> PT on growing power infrastructure demand; shares rise

** Shares of power equipment maker GE Vernova GEV.N up 1.42% at $667.60 premarket

** Brokerage Jefferies raises price target on GEV to $830 from $815

** The new PT represents an upside of 26% to the stock's last close

** Jefferies sees growing demand for power infrastructure and a strategic downsizing of struggling offshore wind operations driving GEV's core profit and free cash flow margins above street estimates

** Adds the balance sheet boost will add flexibility to return to being a dividend payer and have the ability to execute significant share repurchase programs

** 27 of 35 brokerages rate the stock "buy" or higher, 7 "hold" and 1 "sell"; their median PT is $775 - data compiled by LSEG

** Up to last close, stock has doubled YTD

(Reporting by Pranav Mathur in Bengaluru)

((Pranav.Mathur@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment