GE Vernova downgraded to Market Perform from Outperform at Raymond James

Raymond James analyst Pavel Molchanov downgraded GE Vernova to Market Perform from Outperform without a price target The firm says clean technology stocks just had their best quarter since 2020. The artificial intelligence-fueled rally for GE Vernova “feels a bit overstretched, and the stock could use some consolidation,” the analyst tells investors in a research note. Raymond James points out that nearly half of Vernova’s revenue comes from services tied to existing power plants, which means the business model has less direct leverage to newbuilds, particularly in the gas-centric Power segment.