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Benzinga
Benzinga
Business
Lekha Gupta

GE Vernova's Strong Orders And Prolec Deal Signal Major Growth: Analyst

GE Vernova GEV Andrew Obin North America
Stuttgart,,Germany,-,07-19-2024:,Smartphone,With,Website,Of,Us,Energy

GE Vernova Inc. (NYSE:GEV) reported a strong third quarter with orders surging 55% organically and announced it will acquire full ownership of Prolec GE, boosting its stake in North America’s transformer market and positioning the company to capture growing grid investment opportunities.

Bank of America analyst Andrew Obin revised estimates for GE Vernova following third-quarter results. The analyst maintained the Buy rating with a price forecast of $725.

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