GE Vernova Inc. (GEV) Receives a Rating Update From a Top Analyst

TipRanks5minutes ago · Ratings

Express News | Ge Vernova Inc : JP Morgan Raises Target Price to $367 From $356

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GE Vernova holds a cautious attitude towards the prospects of the offshore wind power Industry.

On December 11, Glonghui reported that GE Vernova announced on Tuesday that it has resumed the installation of turbines at offshore wind farms where two devices had malfunctioned. However, the company's CEO, Scott Strazik, expressed a cautious outlook on the prospects of this troubled Industry. During a presentation to investors in New York, Strazik stated that the company has not yet accepted new Orders for offshore wind turbines and expects further losses in its wind power sector by 2025. He added, "We will not chase bad Trades." This Electrical Utilities manufacturer anticipates future growth in its land-based wind power Business over the next three years.

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