GE Vernova pullback ‘attractive buying opportunity,’ says Morgan Stanley

Morgan Stanley thinks Q3 results from GE Vernova (GEV) were “strong,” but shares have traded down on a few factors called out by investors, including softer Q4 Power topline guidance, a consolidated Q3 margin miss, and softer wind guidance. However, the firm isn’t “particularly concerned” and would attribute today’s weakness to the broader selloff in data center related stocks, rather than fundamental concerns with GE Vernova, says the analyst, who views the pullback as “an attractive buying opportunity.” Morgan Stanley maintains an Overweight rating and $690 price target on the shares.