Shares of GE Vernova Inc (NYSE:GEV) rallied in early trading on Wednesday, after the company reported upbeat first-quarter results.
The company delivered a “strong all around quarter,” according to Goldman Sachs.
The GE Vernova Analyst: Analyst Joe Ritchie reiterated a Buy rating and price target of $1,000.
The GE Vernova Thesis: The company posted segment EBITDA of $957 million, significantly higher than consensus of $848 million, Ritche said in the note.
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He added that the beat was driven by:
- Power, which recorded EBITDA $80 million higher than consensus
- ElectriOcation, …