– Sectors – GE Vernova (GEV)

October 30, 2026

GEV Vernova Inc. (GEV) — Q3 Earnings Review: Strip out the Conversions and New Gas Orders Halved; the Guide Says 4Q Cash is Soft and the Float is Being Spent at the Top; PT to $540/shr (from $470); Maintain SELL

By Gordon L. Johnson II

Our estimates were too low. The thesis, a cyclical gas-turbine maker priced as a secular compounder whose order growth is slowing, is intact. Under a +178% Power order headline, new gas business nearly halved. GEV…

GE Vernova (GEV) – Post-Initiation Feedback: Management Confirms the Mechanics of our SELL Rating & Disputes One Call; We Fix the Call; the Rating Stays

By Gordon L. Johnson II

What we learned from a 30-minute call with GE Vernova Investor Relations last Friday, the CEO’s Laguna remarks last week, Siemens Energy’s Laguna read-across, and a week in which the AI complex fell, recovered and…

GE Vernova Inc. (GEV) – The Market Is Capitalizing a Deposit. Initiating at SELL; $470 Price Target

By Gordon L. Johnson II

A cyclical gas-turbine manufacturer priced as a secular compounder. The 2027 vintage disappoints, the 2029-30 capacity wave lands on the richest backlog, and the free cash flow the market is paying 39x EBITDA for belongs…