Melius Research Upgrades GE Vernova Inc. (GEV) from ‘Hold’ to ‘Buy’ With a Price Target of $740

Core Insights - GE Vernova Inc. (NYSE:GEV) has been upgraded from 'Hold' to 'Buy' by Melius Research, with a price target set at $740, highlighting its strong position in the nuclear energy sector [2] - The company's share price has surged approximately 400% since its spinoff, with a remarkable annual return of 177.84% over the past year, driven by $36.62 billion in sales that grew at an annual rate of 8.45% [3] - Melius Research anticipates that GE Vernova may trade at 20 times its projected earnings by 2028, attributing this potential to the company's pricing power and increasing demand for power in the artificial intelligence sector [3] Company Operations - GE Vernova operates as a multinational energy company across various regions including the Americas, Middle East, Africa, Europe, Asia, and the United States, engaging in diverse energy sectors such as nuclear, gas, hydro, and wind [5] - The company has recently divested its Proficy manufacturing software division to TPG for $600 million and plans to lay off 600 employees in Europe to streamline operations [4]