GE Vernova price target raised to $300 from $285 at Evercore ISI

Evercore ISI raised the firm’s price target on GE Vernova to $300 from $285 and keeps an Outperform rating on the shares. While GE Vernova management has been adamant it remains committed to its Offshore Wind business, the company has announced plans to shrink the size of the business while the industry takes time to “reset,” the analyst tells investors. The firm continues to see “ample runway for shares” given the early innings of a power spending cycle and cites “an incremental leg of growth and margin expansion likely to come to fruition over the coming quarters and years” for its increased price target