Truist lowered the firm’s price target on GE Vernova (GEV) to $440 from $470 and keeps a Buy rating on the shares. The firm updated its estimates following its catch-up with GE Vernova, saying it sees the recent pullback from concerns around DeepSeek as creating an attractive entry opportunity for a multi-year step change in demand for the company’s gas turbines. While the firm reduced its price target to better align with peer multiples, the firm remains bullish as the company continues to execute.
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