Shares of GE Vernova (GEV) are trading higher today despite its third downgrade in a week, reinforcing what the chart has already shown. The stock has been in a strong bullish trend since early May and appears to be consolidating before its next breakout higher.

Mizuho Securities downgraded GEV to Neutral this morning but raised their price target to $670, a 63% increase in their target.

Their reasoning? Expanding margins in the company’s Power and Electrification, long-term upside in gas turbine capacity, and stronger demand signals from AI-driven capex.

Their downgrade was based purely on valuation after a nearly 90% YTD rally.

Let’s be clear: valuation-based downgrades during a secular uptrend are almost always short-lived. Mizuho’s upgrade in price target says it all, they’re not bearish, they just want a better entry point. That’s a tell investors should always use to stay ahead of Wall Street.

Wall Street Is Split, But the Trend Isn’t

  • Monday: Guggenheim downgraded to Neutral.
  • Last week: TD Cowen raised its target to $685 from $390 after a 6% earnings beat.

The theme is simple, even the downgrading analysts are raising their targets.

Technically, the Bull Run Is Intact
GEV’s 50-day moving average turned bullish in May, right before a 63% rally. The only real dip came on July 22, when the stock dropped 3% after earnings. That selloff was tied to management not raising forward guidance, not the numbers themselves—which were solid across the board.

Buyers stepped in fast, and GEV hasn’t looked back.

AI Power Demand Is Driving the Setup
GE Vernova is now one of the most important plays in the AI-powered energy infrastructure buildout. It’s not just about nuclear and gas—it’s the full-stack grid solution that makes GEV stand out.

That’s why both institutional and retail investors continue to add on every pullback. Demand isn’t slowing—and neither is the trend.

Bottom Line: $650 Resistance, $1,000 Target
GEV is consolidating just below $650 resistance. A breakout opens the door to $750 and ultimately a long-term target of $1,000.

Ignore the downgrade headlines. Watch the chart. This is a textbook buy-the-dip opportunity in a stock leading the AI infrastructure wave.

— Chris Johnson

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Source: Money Morning