The stock is down $31.67 (-4.38%), giving back a bit less than 1/3 of yesterday's $97.70 gain, $691.33 last.
Back to Al Root at Barron's, December 11:
GE Vernova’s epic run has taken shares too far, too fast for some on Wall Street.
The energy equipment manufacturer’s stock was down early Thursday after catching a downgrade.
Seaport analyst Tom Curran downgraded shares to Hold from Buy. He doesn’t have a price target for the stock. His neutral rating essentially implies shares should keep up with the market.
The move came after GE Vernova closed at a record high of$723 a share on Wednesday, rising 15.6% following the company’s Tuesday evening investor event in New York City.
Investors got a lot at the meeting including increased share buybacks, a doubled dividend, and guidance for 2028 that implies more than $10 billion in earnings before interest, taxes, depreciation, and amortization, or Ebitda. Ahead of the Street and triple Ebitda expected for 2025.
The investor day “gifts” bested the Street’s wish list, wrote Curran, but “after this big step-up of 2028 targets, we see balanced risk-reward [for shares].”....
....MUCH MORE
Earlier this month I realized that Mr. Root's writing reminded me of Barron's alum Tiernan Ray when he was writing about Nvidia for Barron's Tech Trader Daily. They both "get it" regarding the stock they get to cover.
Throw in a bit of Tech Trader founder Eric Savitz's bemused mania when the stories were coming in fast and furious and that's what we've seen at Barron's on GEV this month.
