GE Vernova: BofA upgrades stock to buy

(CercleFinance.com) - GE Vernova gained more than 6% on the New York Stock Exchange on Tuesday, following a recommendation upgrade by Bank of America on the energy infrastructure specialist.


In a research note, BofA said it had upgraded its rating on the stock from 'neutral' to 'buy', with a price target raised from $200 to $300.

To justify its decision, BofA explains that accelerating electricity demand in the USA will support growth in the gas turbine equipment and services market within the sector.

Against this backdrop, the analyst raises his earnings forecasts for the Group for 2025 and 2026 to 16% and 27% respectively, above the market consensus.

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