Ex-Danaher CEO "Larry" Culp Jr. was able to lead the conglomerate GE out of the crisis. GE VERNOVA (GEV) presents itself as a leader stock. Bank of America upgrades to Buy and sees upside to $300 (+30%).
Order volume at record level of $12 billion Gas turbine orders up 60% GE Vernova (GEV), GE's former sustainable energy business unit, is benefiting from the global trend towards renewable energy and the modernization of energy infrastructure. Government regulations and subsidies are driving demand for GE technologies. The Power segment recorded strong growth, particularly in orders for gas turbines (+60%), and the Electrification segment recorded a 30% increase in orders in North America. Free cash flow increased by more than $1 billion...
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- Order volume at record level of $12 billion
- Gas turbine orders up 60%
GE Vernova (GEV), GE\'s former sustainable energy business unit, is benefiting from the global trend towards renewable energy and the modernization of energy infrastructure. Government regulations and subsidies are driving demand for GE technologies. The Power segment recorded strong growth, particularly in orders for gas turbines (+60%), and the Electrification segment recorded a 30% increase in orders in North America. Free cash flow increased by more than $1 billion compared to the previous year and the order volume amounted to $12 billion.
Analysts are optimistic: Barclays has given the shares an "overweight" rating with a price target of $250 and expects strong earnings and free cash flow growth, driven by price increases, productivity improvements and volume growth. There are also opportunities for extensive share buybacks and dividend increases. Bank of America raised its price target to $300 on Tuesday (Sept. 17) and upgraded the stock to Buy on expectations of rising grid spending and rapid earnings growth at Gas Power Services.
GE Vernova (ISIN US36828A1016): EPS is expected to rise 90% next year. The share has risen sharply, with a forward P/E 2024 ratio of 71.5, but investors should plan for short-term setbacks in view of the high momentum.
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