Investing.com -- Baird initiated coverage of GE Vernova LLC (NYSE:GEV) with an "Outperform" rating and a $448 price target, citing the company's leadership in power generation and its strong position to benefit from rising global electricity demand.
GE Vernova operates across three segments, Power, Wind, and Electrification, offering equipment and services at a scale unmatched by competitors. Baird sees pricing power, a strong technology portfolio, and clean financials as key factors supporting long-term growth, with potential margin expansion through 2028.
The firm highlighted additional upside from emerging technologies such as small modular reactors and carbon capture, as well as a potential recovery in the Wind segment, which has been under pressure.
Baird assigned a valuation multiple of 23x its 2028 estimated EV/EBITDA, a premium to peers, citing GE Vernova’s strong backlog and pricing advantages.
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