RBC Capital Upgrades GE Vernova (GEV) to Outperform

RBC Capital analyst Christopher Dendrinos upgraded GE Vernova (NYSE: GEV) from Sector Perform to Outperform with a price target of $761.00 (from $630.00).

The analyst comments "We upgrade GEV to Outperform (from Sector Perform) following a stronger than expected updated outlook. Our prior downgrade ( here ) under appreciated the growth and margin opportunity that is showing no signs of slowing. We believe this drives margin expansion from the benefit of expanding equipment margins and productivity improvements today, and longer-term from a growing services backlog and expansion of the electrification product portfolio. Our updated PT of $761 (from $630) is based on a 13x 2030E EBITDA multiple (from 12.5x). Multiple expansion reflects a strong bias that estimates could continue to trend higher."

For an analyst ratings summary and ratings history on GE Vernova click here. For more ratings news on GE Vernova click here.

Shares of GE Vernova closed at $625.30 yesterday.

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