GE Vernova's Gas Power Services Underappreciated & Poised For Growth: Analyst
Portfolio Pulse from Lekha Gupta
GE Vernova Inc. (NYSE:GEV) shares rose after BofA Securities upgraded the stock from Neutral to Buy, raising the price target from $200 to $300. The analyst highlighted the underappreciated potential of Gas Power Services, which is expected to drive faster earnings growth. The 2025 and 2026 adjusted EBITDA estimates were raised significantly. Investors can also gain exposure through Invesco S&P Spin-Off ETF (NYSE:CSD) and Fidelity Clean Energy ETF (BATS:FRNW).
September 17, 2024 | 5:31 pm
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POSITIVE IMPACT
Invesco S&P Spin-Off ETF provides exposure to GE Vernova, which was upgraded by BofA with a raised price target, indicating potential positive impact on the ETF.
CSD holds GE Vernova, which was upgraded by BofA. The positive outlook on GEV could benefit CSD, though the impact is less direct compared to holding GEV shares.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Fidelity Clean Energy ETF includes GE Vernova, which was upgraded by BofA, potentially benefiting the ETF due to GEV's growth prospects.
FRNW includes GE Vernova, which received a positive upgrade from BofA. The ETF may see a positive impact due to GEV's growth potential, though the effect is indirect.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
BofA Securities upgraded GE Vernova to Buy, raising the price target to $300, citing underappreciated growth potential in Gas Power Services. The 2025/2026 EBITDA estimates were significantly increased.
The upgrade from Neutral to Buy and the significant increase in price target and EBITDA estimates suggest strong confidence in GEV's growth potential, particularly in Gas Power Services. This is likely to positively impact the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100