GE Vernova Sinks Up to 9% as GLJ Research Opens Coverage With Sell Rating and Street-Low $470 Target

GE Vernova shares tumbled as much as 9% to $873.89 in midday trading on Monday after GLJ Research initiated coverage with a Sell rating and a $470 price target, the lowest on Wall Street. The $470 target implies roughly 50% downside from where the stock was trading, a stark counterpoint to the bullish narrative that had lifted shares on long-term demand for power infrastructure and AI data center buildout.

GLJ cited cycle concerns as the basis for its bearish view. The selloff rippled into related names, with Eaton dropping 7% and Quanta Services falling 4% on the same day.

Prior to Monday's decline, GEV had attracted attention for rising free cash flow and persistent demand tied to nationwide AI data center expansion and grid upgrade spending. The GLJ initiation introduces a high-profile bear case challenging that thesis, and with the $470 target sitting well below consensus, it draws a sharp line between optimistic and skeptical views on where the power infrastructure cycle stands.