Guggenheim starts GE Vernova with Buy rating, ‘Street high’ $300 price target

As previously reported, Guggenheim initiated coverage of GE Vernova with a Buy rating and $300 price target. The firm forecasts gas turbine growth as electricity demand rises in the U.S., both in the “near term as growing service revenues” and “over the longer term as additional equipment revenue as bookings translate to revenue several years out,” calling GE Verona “an attractive way for investors to participate in electricity load growth in the US.” Among 26 firms tracked by Bloomberg, Guggenheim’s $300 price target represents the “Street high.”