GE Venova Stock Surges 7% on Analyst Price Target Hike Ahead of Earnings
GE Venova (GEV) shares rallied 7.09% Monday, outperforming the broader market's 1.6% gain, after Susquehanna analyst Charles Minervino raised his price target to $740 from $736. The bullish adjustment comes less than two weeks before the industrial firm's Q3 earnings report.
Minervino maintained his buy rating, citing favorable provisions in the Inflation Reduction Act that preserve tax credits for domestic manufacturers. The analyst's revised outlook reflects growing Optimism about U.S. industrial policy tailwinds under the current administration.
GE Venova's manufacturing-focused profile positions it to benefit from bipartisan support for domestic production incentives. The stock's pre-earnings momentum suggests institutional confidence in the company's ability to capitalize on these macroeconomic trends.
