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Investing.com - GE Vernova (NYSE:GEV) stock gained momentum after UBS reiterated its Buy rating and $614.00 price target following the company’s quarterly earnings report. The stock, currently trading near its 52-week high of $633.72, has delivered an impressive 290.74% return over the past year. According to InvestingPro, 4 analysts have recently revised their earnings estimates upward for the upcoming period.
The company reported strong operating results and raised its full-year guidance, with its Power segment achieving 9% organic growth and 55% incremental margin, exceeding UBS’s model by 13%.
GE Vernova increased its Power margin guidance by 100 basis points, with the low end of the range now surpassing UBS’s full-year estimate, potentially continuing the positive revision cycle for the company.
The Electrification segment also outperformed expectations with 20% organic growth compared to UBS’s 19% model and 47% incremental margin versus the anticipated 35%.
While orders were down due to difficult comparisons from two large contracts signed in the same quarter last year, UBS expects this metric to reaccelerate in the second half of the year, supported by a $2 billion-plus Saudi synchronous condensers order.
In other recent news, GE Vernova has been the subject of several analyst updates following its second-quarter earnings. BMO Capital raised its price target for the company to $690 from $590, maintaining an Outperform rating, citing signals of power market tightening. Additionally, BMO reiterated its Outperform rating, increasing the price target to $631 from $561, due to strong results and order flows. Citi also adjusted its price target to $670 from $544, maintaining a Neutral rating, after GE Vernova’s quarterly performance showed a modest upside to its 2025 outlook. Jefferies increased its price target to $620 from $565, following strong management commentary after the earnings release, while maintaining a Hold rating. Wolfe Research reiterated its Peerperform rating, noting GE Vernova’s significant role in the energy transition and highlighting its position in key sectors expected to drive growth. These recent developments reflect a broad recognition of GE Vernova’s performance and future potential among analysts.
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