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Investing.com - TD Cowen lowered its price target on GE Vernova (NYSE:GEV) to $680 from $685 on Thursday while maintaining a Buy rating on the stock. The target falls within the broader analyst range of $420-$760, with InvestingPro data showing the stock has already delivered an impressive 114.8% return over the past year.
The firm cited weaker wind orders as a factor in its decision, though it noted GE Vernova’s fundamental update was "incrementally positive" with strong Power and Electrification orders and solid margin performance. According to InvestingPro analysis, the company maintains strong financial health with more cash than debt on its balance sheet, though it currently trades at premium valuations across multiple metrics.
GE Vernova shares recovered to trade down approximately 1.5% after initially falling nearly 10% as the Power/AI/Momentum group unwound for no apparent reason, according to TD Cowen.
The research firm raised its 2025 estimates to reflect the third-quarter beat and updated guidance, while lowering 2026 projections due to the weaker wind orders. Estimates for 2027 and beyond were slightly increased based on new gas turbine modeling assumptions.
TD Cowen noted investor focus will now shift to GE Vernova’s December 9 guide update, where 2026 forecasts will be introduced and "by 2028" targets refreshed, along with commentary beyond 2028.
In other recent news, GE Vernova reported its third-quarter 2025 earnings, which showed a mixed financial performance. The company missed its earnings per share (EPS) forecast, reporting $1.64 against an expected $1.86, but exceeded revenue expectations with $9.97 billion compared to the projected $9.16 billion. This revenue outperformance has been a focal point for investors. Following these results, several analyst firms adjusted their price targets for the company. Goldman Sachs raised its price target to $735 from $715, maintaining a Conviction Buy rating, noting the strength in the Electrification and Power segments. BMO Capital also increased its target to $710 from $690, citing strong order momentum for gas turbines. Meanwhile, RBC Capital adjusted its price target to $630 from $605, highlighting GE Vernova’s strong quarterly results and a significant acquisition. These developments underscore the company’s robust performance despite the challenges in the market.
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