Mizuho Cuts GE Vernova (GEV) PT on Lower Wind and Nuclear Sector Valuations

GE Vernova Inc. (NYSE:GEV) is one of the best up and coming stocks to buy right now. On October 24, Mizuho lowered the firm’s price target on GE Vernova to $660 from $677 with a Neutral rating on the shares. The firm made this price cut due to lower valuation multiples for the wind and nuclear sectors following the earnings report.

On the same day, Wells Fargo analyst Michael Blum raised the firm’s price target on GE Vernova instead from $697 to $717 and kept an Overweight rating on the shares due to the Prolec deal and continued price & backlog momentum for Heavy Duty Gas Turbines.

Mizuho Cuts GE Vernova (GEV) PT on Lower Wind and Nuclear Sector Valuations

On October 21, GE Vernova announced its intent to fully acquire the remaining 50% stake of the Prolec GE joint venture from its partner, Xignux, to accelerate growth for GE Vernova’s Electrification segment. This is currently the company’s fastest-growing segment. The deal expands the segment’s presence and strengthens its ability to serve customers, particularly in North America.

GE Vernova Inc. (NYSE:GEV) is an energy company that provides various products and services that generate, transfer, orchestrate, convert, and store electricity in the US, Europe, Asia, the Americas, the Middle East, and Africa.

While we acknowledge the potential of GEV to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than GEV and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.