GE Vernova initiated with a Buy at Mizuho

Mizuho analyst Maheep Mandloi initiated coverage of GE Vernova with a Buy rating and $154 price target. The company benefits from leadership in the gas power business that generates recurring and increasing cash flow, margin expansion in wind due to pricing power and an unprofitable offshore backlog ending by 2026, and its strong presence in grid services and electrification, the analyst tells investors in a research note. The firm expects GE Vernova to approach a 10% adjusted EBITDA margin exiting 2026, much earlier than guidance of 2028.