Nomura has maintained its buy rating on GE Vernova with a target price of ₹3,700 per share following another strong quarter of earnings outperformance. The brokerage said EBITDA margins remained healthy, with management guiding for sustained profitability in the mid-20% range.
Nomura added that the company’s large-scale capital expenditure pipeline provides multi-year execution visibility, supporting long-term growth momentum. Q2FY26 results saw a 41% earnings beat versus estimates, driven by healthy margins and strong order inflows across both energy and infrastructure divisions.
Management remains confident about a robust order pipeline, citing continued traction in mega energy projects and industrial equipment upgrades. Nomura expects the positive demand environment and margin resilience to sustain, with the company trading at 59x FY27F and 49x FY28F earnings — levels the brokerage believes are justified by its execution strength and visibility.
Disclaimer: The views and recommendations above are those of Nomura. Business Upturn does not endorse them. Please consult a financial advisor before making investment decisions.
