Trump suspends new federal offshore wind leasing, Reuters reports
Written by Emily J. Thompson, Senior Investment Analyst
Trump's Offshore Wind Leasing Suspension: President Trump suspended new federal offshore wind leasing on his first day in office, citing concerns over costs, aesthetics, and wildlife impact, pending a review.
Biden's Renewable Energy Goals: Former President Biden aimed for 30 gigawatts of offshore wind projects by 2030, significantly increasing from the current 42 megawatts at the end of 2023, with several companies involved in this sector.
Analyst Views on GEV
Wall Street analysts forecast GEV stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GEV is 676.76 USD with a low forecast of 475.00 USD and a high forecast of 758.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
19 Analyst Rating
12 Buy
6 Hold
1 Sell
Moderate Buy
Current: 642.230
Low
475.00
Averages
676.76
High
758.00
Current: 642.230
Low
475.00
Averages
676.76
High
758.00
About GEV
GE Vernova Inc. is a purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses. It designs, manufactures, delivers, and services technologies to create a sustainable electric power system, enabling electrification and decarbonization. Power segment includes the design, manufacture, and servicing of gas, nuclear, hydro, and steam technologies, providing a critical foundation of dispatchable, flexible, stable, and reliable power. Wind segment includes its wind generation technologies, inclusive of onshore and offshore wind turbines and blades. Electrification segment includes grid solutions, power conversion and storage, and electrification software technologies required for the transmission, distribution, conversion, storage, and orchestration of electricity from point of generation to point of consumption. Its accelerator business includes advanced research, consulting services and financial services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
