Shares of GE Vernova could rise due to growth potential in its gas power, wind and electrification businesses, according to Deutsche Bank.
Things are looking up for GE Vernova , according to Deutsche Bank. The firm initiated its coverage of the energy company with a buy rating and $354 price target, implying upside of nearly 30%. Shares of GE Vernova have surged 95% since the company was spun off from General Electric in April. Analysts are generally bullish the stock, with the majority of those covering the name rating it either as a strong buy or buy.
" DeBlase also sees a "very favorable" mix of revenue and margin expansion dynamics in GE Vernova's electrification business. In the long term, the company's wind turbine business will also capitalize on the industry's growth potential, with wind expected to generate 25% of the world's electricity by 2040 versus just 7% today, the analyst said.
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