Argus analyst John Eade raised the firm's price target on GE Vernova to $1,300 from $800 and keeps a Buy rating on the shares. The company's installed base generates approximately 30% of the world's electricity, and the firm views GE Vernova as a well-run, financially strong company that appears poised to take advantage of megatrends such as energy transition, global electrification, and global decarbonization, the analyst tells investors in a research note. Though the recent profit record has been spotty, a turnaround is underway, and the outlook for near-term growth is promising, the firm added.
