35 AI News and Ratings You Should Not Miss

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14. GE Vernova Inc. (NYSE:GEV)

Number of Hedge Fund Holders: 92

GE Vernova Inc. (NYSE:GEV) is an energy company that engages in the provision of various products and services that generate, transfer, orchestrate, convert, and store electricity. On October 23, Evercore ISI raised the price target on the stock to $323 from $300 and kept an Outperform rating on the shares. The advisory updated its model to reflect Q3 and the company’s guidance, noting that the company now expects 2024 revenue to be towards the higher end of its $34 billion – $35 billion guidance with free cash flow trending towards the higher end of its $1.3 billion – $1.7 billion view. The advisory, which is leaving its 2025 and 2026 adjusted EBITDA estimates unchanged at $3.32 billion and $4.54 billion, respectively, notes that its increased price target reflects a higher market multiple.

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