On July 30, INNIO Holding GmBH rose 5.05% in pre-market trading, trading at $23.31/share, with turnover of $11,700.

On the news front, RBC Capital Markets upgraded INNIO from Sector Perform to Outperform, while lowering its price target from $39 to $35. The upgrade came after the stock suffered a steep decline of approximately 10% the previous session. According to FactSet, analysts maintain an average overweight rating with a consensus target of $38.70, implying significant upside from current levels.

The rating upgrade followed INNIO's Q2 earnings release on July 28, which showed adjusted EPS of $0.08 beating estimates of $0.06, though declining 11% year-over-year from $0.09. Revenue surged 42% to $937.7 million, exceeding estimates of $881.7 million. The company also announced a 1.1-gigawatt gas engine order for data center campuses, providing multi-year revenue visibility. Despite the beats, the stock had sold off on concerns over profit compression and only modest full-year guidance of $3.8-$3.9 billion versus consensus of $3.79 billion. RBC's upgrade signals institutional confidence that the selloff created an attractive entry point.

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