GE Vernova gains as Citigroup raises PT

GE Vernova T&D India

14/07/2025 17:03

Updates

** Shares of power equipment maker GE Vernova GEV.N rise 2% to $549

 ** Citigroup raises price target to $544 from $354: implying ~1% upside to stock's last close

** Brokerage says GEV's long-cycle portfolio and relatively unique position to support accelerating growth for power generation could sustain a much higher premium valuation than previously expected

** "Supply scarcity for utility-scale gas turbines and increasing service-related demand remain supportive of elevated pricing tailwinds that should begin to materialize in the coming years." - Citigroup

** Adds that this could support incremental upward revisions to earnings estimates, especially into 2027 and beyond, as recently booked long-cycle demand converts to topline/earnings

** Citigroup anticipates likely outsized earnings growth vs. most peers over the following years as GEV continues to execute a turnaround in its wind business and improves profitability in Electrification

** 26 of 24 brokerages rate the stock "buy" or higher, 8 "hold"; median PT is $511 - data compiled by LSEG

** As of last close, shares are up 63.91% YTD

(Reporting by Katha Kalia in Bengaluru)

((Katha.Kalia@thomsonreuters.com))