Daiwa upgraded GE Vernova (GEV) to Buy from Outperform with a price target of $336, up from $245. The firm lifted its margin forecasts through 2028 following the Q3 report. Despite the Q3 results missing consensus estimates, GE Vernova’s story is about earnings beyond 2026 rather than short-term results, the analyst tells investors in a research note. Daiwa expects the stock momentum to sustain ahead of the December 10 investor day, when GE Vernova will update on its margin outlook and upcoming rate cut cycle. It sees an attractive valuation ahead of a “massive upcycle.”
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