Guggenheim lifts GE Vernova PT to Wall Street high, expects growth to last through decade

Guggenheim hikes GE Vernova GEV.N PT to a Wall Street high of $600 from $380

"GEV is one of the best ways we know of to invest for growth in US and European power generation and infrastructure" - brokerage

At this point, investors have line of sight to 2028 EBITDA and cash generation that is not only above the Street, but which is also positioned to grow at an accelerating rate in 2029 and 2030 as more recent pricing actions flow through the business model, brokerage adds

The new price target represents a ~29% upside to the stock's last close

Co reported Q1 revenue that beat analysts' estimates on the back of strength in its power and electrification units and reaffirmed its annual revenue forecast earlier in April

Shares of the power equipment maker marginally up in premarket trading

24 of 31 brokerages rate the stock "buy" or higher and 7 "hold"; their median PT is $497.50 - LSEG

Stock up ~41% so far this year through Tuesday