GE's third-quarter results are likely to benefit from strength across its commercial and defense end markets. High costs and expenses are likely to have been spoilsports.
GE Vernova, spun off from GE, has shown impressive growth, rising 77.9% YTD, outperforming peers and the S&P 500 Index. CEO Scott Strazik's leadership and strategic focus on Power and Gas segments are crucial for future growth and profitability. Financial improvements include a significant cash balance increase and better working capital, though challenges remain in the offshore wind sector.
GE Aerospace shares have risen 11.6% since July, outperforming the S&P 500, but concerns about valuation keep my rating at 'hold'. The company showed strong revenue growth, particularly in the Commercial Engines & Services segment, but equipment sales have been weak due to supply chain issues. Despite robust fundamentals and long-term growth potential in the aviation industry, the stock's high valuation prevents me from upgrading my rating.
Chart Smarter ‘s Douglas Busch believes industrial stocks are poised for more gains soon.
General Electric's fall from grace took years, but now that it is done breaking itself into pieces, the new GE Aerospace is pretty attractive.
GE Aerospace is laying off 72 employees at its Schenectady site in New York state, the company said in a Worker Adjustment and Retraining Notification (WARN) notice on Wednesday.
General Electric stock (NYSE: GE) has had a solid run, rising more than 2x in the last twelve months from levels of about $90 per share in September 2023 to $190 now, led by its solid business fundamentals and its steady growth in Aerospace revenues. There is a high probability that this run is unlikely to lose steam anytime soon for it is backed by solid business performance.
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Raymond James analyst downgraded shares of GE Vernova to Hold from Buy, and removed his $190 price target.
GE Vernova GEV is a relatively new stock that has nearly doubled its value since it started trading in March. The stalwart American firm General Electric GE spun it off, and it is now a $70 billion industrial company.
GE Vernova Inc. GEV shares are trading lower on Thursday. Truist Securities analyst Jordan Levy initiated coverage on the company with a Buy Rating and a price target of $300.
GE Vernova picked up its fifth new Buy rating in recent weeks while GE HealthCare Technologies picked up a new Sell rating.