Nomura has reiterated its ‘Buy’ rating on GE Vernova with a target price of ₹2,600, following a strong Q4 performance marked by a sharp beat on orders and healthy gross margins. The brokerage believes the company’s operational resilience and strong order pipeline set the stage for long-term growth.
GE Vernova’s Q4 EBITDA came in 38% above estimates, driven by robust gross margins of 42.3%. Nomura described the company’s guidance as bullish, with continued emphasis on technology absorption and margin outperformance.
Nomura has raised its FY26–27F earnings estimates by 2–4%, projecting a 36% earnings CAGR from FY25 to FY27. It noted that GE Vernova trades at 43x Mar’27F EPS, a premium valuation justified by its strong execution visibility, technology-led model, and high-margin profile.
Disclaimer: This article is based on the brokerage report by Nomura. It does not constitute investment advice.
