The firm initiated its coverage of the energy company with a buy rating and $354 price target, implying upside of nearly 30%.
Analysts are generally bullish the stock, with the majority of those covering the name rating it either as a strong buy or buy.
GEV YTD mountain GEV YTD chart As a catalyst, analyst Nicole DeBlase cited a strong outlook in investments towards power generating assets.
Additionally, the analyst pointed out that GE Vernova's gas power business is increasingly turning into a growth story.
"Gas turbine orders have picked up in recent quarters, as increasing electricity consumption pressures existing grid infrastructure, requiring more baseload capacity.
Persons:
Nicole DeBlase, DeBlase
Organizations:
GE Vernova, Deutsche Bank, General Electric, GE, Gas