From Investor's Business Daily, September 15:
GE Vernova (GEV) is Monday's IBD Stock Of The Day, with the S&P 500 component trading in a buy zone in stock market action after receiving a bullish upgrade as analysts see further 18% upside with demand for energy expected to be a long-term positive for the company.
Melius Research analyst Rob Wertheimer on Monday upgraded GE Vernova to a buy rating from the previous hold designation and now has a 740 price target on the shares. Wertheimer noted that GEV is up more than 400% since General Electric wrapped up its big, long-term breakup last year and that there remains a lot of room for "surprise to the upside on sell-side estimates moving toward 2027 and beyond."
On Friday, Jefferies raised its GE Vernova price target to 668 from 658 and kept a hold rating on the shares. Jefferies analysts noted that management has said it is "not going to surprise that differently on top line revenue." for 2028 and that potentially decelerating revenue growth out of 2028 "implies less support for a premium valuation."
Morgan Stanley analyst David Arcaro wrote Monday that coming out of the Laguna Conference, he "came away with increased confidence in the long-term outlook" for GE Vernova.
"Considering the outlook for continued data center growth, electrification across the economy, and industrial growth globally all supporting greater electric demand for a prolonged period, management sees the current cycle as strong and longer than almost any period in history," Arcaro wrote Monday.
Investors can also keep tabs on the Leaderboard, the IBD 50 list of top growth stocks and IBD SwingTrader along with the IBD Sector Leaders list.
GE Vernova Stock Performance
GE Vernova stock increased about 0.5% to 628.39 at the close for Monday's stock market after advancing 7.5% to 625.55 last week. The S&P 500 stock has a traditional buy point of 677.29, according to MarketSurge charts.Last week, GE Vernova pushed above the 50-day moving average, breaking a downward trendline in the base and flashing a possible buy signal. GEV is also on the IBD Leaderboard with analysis showing a buy point at 613 and a buy zone running to 643.65....
....MUCH MORE
Also at IBD, September 15:
Top S&P 500 Stock GE Vernova Receives Bullish Upgrade But Is Still Below Buy Point
GEV ended the regular session up $3.13 +(0.50%) at $628.68. In early after-hours trade it is down 88 cents.
