RBC Capital reiterated an Outperform rating and $445 price target on GE Vernova (GEV), saying that strong quarterly order flow and guidance increase from Siemens Energy (SMNEY) could be a positive read-through for GE Vernova. Historically, order flows for both companies have been directionally correlated, and the firm believes this suggests that GE Vernova is also positioned to report strong orders, the analyst tells investors in a research note. The firm added that it believes the message from GE Vernova when it reports next week will be bullish, highlighted by some concerns around the long-term demand potential for gas turbines.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GEV:
- GE Vernova Inc call volume above normal and directionally bullish
- GE Vernova price target lowered to $387 from $448 at Baird
- GE Vernova price target lowered to $354 from $437 at Citi
- Anterix announces Ericsson, GE Vernova, Nokia expand collab with initiative
- GE Vernova price target lowered to $425 from $436 at JPMorgan