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Investing.com - Jefferies raised its price target on GE Vernova (NYSE:GEV) to $620.00 from $565.00 on Thursday, while maintaining a Hold rating on the stock. The company, currently trading at $629.03 with a market capitalization of $171.2 billion, has shown remarkable momentum with a 286.9% return over the past year.
The price target increase follows GE Vernova’s second-quarter results, after which the company’s shares climbed 15% on strong management commentary.
Jefferies noted that while gas continues to remain the preferred means of power generation, the recent momentum in GE Vernova shares makes the current valuation "increasingly cautious for a cyclical industrials."
The firm perceives "more muted upside pending LT clarity and/or cash deployment" for GE Vernova stock, citing growing expectations for a robust uptick to the company’s 2028 and beyond guidance at its December Analyst Day.
Despite the price target increase, Jefferies maintained its Hold rating on GE Vernova shares, suggesting limited near-term upside potential at current valuation levels.
In other recent news, GE Vernova reported strong second-quarter earnings for 2025, exceeding expectations with significant growth in revenue and earnings per share (EPS). The company posted an EPS of $1.86, surpassing the forecasted $1.50, resulting in a 24% positive surprise. Revenue reached $12.4 billion, well above the anticipated $8.8 billion, reflecting robust performance. In another development, BofA Securities raised its price target for GE Vernova from $620 to $725, maintaining a Buy rating. This decision was attributed to improving pricing conditions in the company’s Gas Power services segment amid a tightening U.S. electricity market. Wolfe Research reiterated its Peerperform rating for GE Vernova, citing the company’s strong position in Gas, Onshore Wind, and Transmission & Distribution equipment and services. These sectors are expected to drive above-average sales growth through the end of the decade. These recent developments highlight GE Vernova’s strategic direction and financial health.
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