Jefferies analyst Julien Dumoulin-Smith initiated coverage of GE Vernova with a Buy rating and $261 price target. The company’s spinoff from GE came just in time to capitalize on the robust demand for baseline natural gas generation even as management shelves offshore wind, the analyst tells investors in a research note. The firm sees 2025 and 2026 EBITDA upside potential for GE Vernova, driven by the wind cost-out even as power and electrification accelerate “to carry the story” above the Street past 2028 and beyond.
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