Jefferies raises GE Vernova PT on stronger long-term profit outlook

Jefferies raises price target for power equipment maker GE Vernova GEV.N to $658 from $620

New PT represents an upside of 5.2% to the stock's last close

Brokerage raises PT on stronger long-term profit expectations, driven by higher margin on gas turbine service contracts

"GEV to earn 5% higher core profit in 2028 and sees power segment margin in high 20% in the 2030s if new equipment pricing continues to flow through" - Jefferies

Notes GEV's turnaround is fueled by rising power infrastructure demand and a streamlined offshore wind business, boosting EBITDA and free cash flow margins above expectations

24 out of 34 brokerages rate the stock "buy" or higher, 10 "hold"; their median PT is $685 - data compiled by LSEG

As of last close, GEV up 90% YTD