GE Vernova up as Jefferies upgrades to 'buy' on power infrastructure demand

Shares of power equipment maker GE Vernova GEV.N up 5.5% at $647.22

Jefferies upgrades rating on GEV to "buy" from "hold," and raises PT to $815 from $736, representing an upside of 32.7% to stock's last close

Gas turbine pricing continues to positively surprise and services provide visibility deeper into the 2030s, eventually offsetting gas equipment weakness - brokerage

"We see accelerating demand for power infrastructure and a structural pruning of a challenged offshore wind business driving core profit and free cash flow margins well above the Street" - Jefferies

26 out of 35 brokerage rate the stock "buy" or higher, 8 "hold" and 1 "sell"; median PT is $769 - data compiled by LSEG

Including session's moves, shares up 97.6% YTD