GE Vernova price target raised to $285 from $240 at JPMorgan

JPMorgan analyst Mark Strouse raised the firm’s price target on GE Vernova to $285 from $240 and keeps an Overweight rating on the shares. Given the company already preannounced Q3 EBITDA, the firm views the December 10 investor event as a relatively larger catalyst for the stock. Expectations are elevated with the stock 101% since the spinoff and the new long-term financial targets to be issued at the December 10 event could potentially disappoint if management continues with its cadence of setting conservative targets, the analyst tells investors in a research note. However, the firm believes GE Vernova remains a key beneficiary of the U.S. electric load growth theme, “which is still very early in the cycle.” It believes that macro announcements and backlog growth could provide additional visibility into both the company’s revenue and margin upside in 2027 and beyond.