GE Vernova: BofA upgrades to buy

(CercleFinance.com) - GE Vernova shares rose over 6% at one point in New York on Tuesday (cp: +3%), following a rating upgrade by Bank of America for the energy infrastructure specialist.


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

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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