What Analysts Think of GE Vernova’s Stock Ahead of Earnings | Global News Avenue

General Electric Vernova (GEV) will report earnings before the market opens on Wednesday, as the energy company approaches one year since its founding General Electric completes spinoff Split into three separate companies.

Analysts tracked by Visible Alpha are mostly bullish on the stock, with 10 rating the stock a “buy” and two analysts giving the stock a “buy” rating. “Hold” rating. Their price targets range from $361 to $446, with an average price of about $392, down from the stock’s historical strong performance on Friday. GE Vernova shares rose nearly 3% on Friday to close at a record high of $401.41, nearly tripling since going public in April.

The company is expected to report income Revenue in the final quarter of 2024 was $10.73 billion, up from $10.04 billion in the same period a year earlier, when the company was still part of General Electric. net income Estimated revenue of $634.87 million Two of the company As an independent company, the first three quarters resulting in a net loss.

Wind power industry profitability becomes focus

company Previous quarters indicated The wind power business is the only unprofitable of GE Vernova’s three divisions and is expected to be “close to profitability” by the end of this fiscal year. The company said the shift would take time as companies abandon higher-cost offshore wind projects.

Since GE Vernova became independent, analysts have upgraded the company’s ratings or increased its price targets multiple times, including those at Bank of America earlier this week.

they have citing growing demand For energy, especially renewable formsfor example Data centers and artificial intelligence The product serves as a positive catalyst for future sales of GE Vernova.

Other former GE divisions: GE Aerospace (General Electric) and GE Healthcare (GEHC), will announce fourth-quarter results on January 23 and February 13 respectively.