12:35 PM EDT, 04/25/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Following strong price gains in recent weeks and Q1 results near our expectations, we raise our 12-month target price by $17 to $162, reflecting a 2024 EV/EBITDA of 19x, above global heavy electrical equipment peers. We lower our 2024 EPS estimate by $0.10 to $3.70 and raise our 2025 estimate by $0.43 to $5.55. GEV reported a Q1 adjusted loss of $0.41 per share vs. a per share loss of $1.25, missing consensus forecasts for a loss of $0.22 per share. Revenue of $7.26 billion rose 6.4% Y/Y, supported by new gas turbine orders from U.S. utilities and higher services revenues at Power, as well as increasing equipment sales at Electrification. Results were offset somewhat by weaker equipment orders in the Wind segment, particularly in the North American onshore wind market. Orders of $9.7 billion were flat Y/Y. Adjusted EBITDA margin of 2.6% rose 530 basis points from the prior-year quarter, including margin growth across all segments, led by 8.6% at Power.