Jefferies initiates coverage on GE Vernova, bullish on 2 other power transmission stocks (opens original article in a new tab)

Jefferies initiates coverage on GE Vernova T&D with a Hold rating, while maintaining Buy ratings on Hitachi Energy India and Siemens Energy India due to strong earnings growth and sustained power transmission capex in India. The brokerage expects continued supply shortages and firm pricing in the sector, supporting margins for key equipment suppliers.

• Jefferies initiates coverage on GE Vernova T&D with a Hold rating and Rs 6,000 target price
• Jefferies maintains Buy ratings on Hitachi Energy India and Siemens Energy India with 17% upside targets
• India's power transmission capex is expected to sustain at elevated levels with over Rs 800 billion annual project awards