GE Vernova shares rise following investor day

Shares of electric services company GE Vernova LLC (NYSE:GEV ) rose to over $347 on Wednesday following its investor day presentation.

Morgan Stanley (NYSE:MS ) on Wednesday reiterated its overweight rating on GE Vernova with a price target of $367. The company’s 2025 financial targets were relatively in line with expectations, while its 2028 financial targets were set slightly below consensus estimates.

According to a Morgan Stanley research note, GEV’s new targets appear conservative as they do not include recent price increases, variable cost improvements, or potential upside from future capacity expansion.

Separately, BofA Global Research also maintained its Buy rating on the Massachusetts-based firm with a price objective of $380.

On Tuesday, GEV announced that its board declared a $0.25 per share quarterly dividend and approved an initial $6 billion share repurchase authorization. The company expects 2025 revenue to range between $36 billion and $37 billion, with revenue reaching about $45 billion by 2028.

Source: Investing.com