Citigroup raises PT on GE Vernova, sees higher premium valuation
Citigroup raises price target on power equipment maker GE Vernova GEV.N to $544 from $354
The new price target represents ~1% upside to stock's last close
Brokerage says GEV’s long-cycle portfolio and relatively unique position to support accelerating growth for power generation could sustain a much higher premium valuation than previously expected
"Supply scarcity for utility-scale gas turbines and increasing service-related demand remain supportive of elevated pricing tailwinds that should begin to materialize in the coming years." - Citigroup
Adds that this could support incremental upward revisions to earnings estimates, especially into 2027 and beyond, as recently booked long-cycle demand converts to topline/earnings
Citigroup anticipates likely outsized earnings growth vs. most peers over the following years as GEV continues to execute a turnaround in its wind business and improves profitability in Electrification
26 of 24 brokerages rate the stock "buy" or higher, 8 "hold"; median PT is $511 - data compiled by LSEG
As of last close, shares are up 63.91% YTD
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