GE Vernova downgraded to Peer Perform from Outperform at Wolfe Research

Wolfe Research downgraded GE Vernova (GEV) to Peer Perform from Outperform without a price target The downgrade “is all about valuation” following the stock’s 50% gain year-to-date, the analyst tells investors in a research note. The firm believes GE Vernova’s EBITDA ramp towards $12B-$15B by the end of the decade is now priced into the shares. Many of the positives are now adequately discounted, resulting in a more balanced relationship between risk and reward, contends Wolfe.