GE Vernova initiated with an Outperform at BMO Capital

BMO Capital analyst Ameet Thakkar initiated coverage of GE Vernova with an Outperform rating and $245 price target. The firms is bullish on the “potential emerging super-cylce” for gas power next decade and optimistic onshore wind rebounds. It views GE Vernova’s offshore issues as transitory and believes electrification growth should help drive improvement in consolidated EBITDA margins. It views the company as a hedge versus more tariff-levered names into the election.