GE Vernova price target raised to $620 from $550 at BofA Securities

Investing.com - BofA Securities raised its price target on GE Vernova (NYSE:GEV) to $620.00 from $550.00 on Thursday, while maintaining a Buy rating on the stock. The new target represents potential upside from the current price of $561.17, though InvestingPro analysis suggests the stock is trading above its Fair Value. The stock has delivered impressive returns, gaining over 70% year-to-date and 238% over the past year.

The firm forecasts GE Vernova to post strong second-quarter orders, projecting $11.8 billion total ($5.8 billion in Power, $4.9 billion in Electrification, and $1.0 billion in Wind). This estimate sits 6% above the consensus of $11.1 billion, with the upside driven entirely by the Power segment. With earnings scheduled for July 23, InvestingPro subscribers can access 16 additional key insights and a comprehensive Pro Research Report to prepare for the announcement.

BofA Securities expects 6 gigawatts (GW) of Gas Power turbine orders for the second quarter, compared to 7GW in the first quarter of 2025, 6GW in the fourth quarter of 2024, 5GW in the third quarter of 2024, and 4GW in the second quarter of 2024.

The firm’s second-quarter 2025 adjusted EBITDA forecast for GE Vernova stands at $0.7 billion, in line with consensus estimates.

Multiple gas turbine orders announced during the quarter contributed to BofA’s optimistic outlook for GE Vernova’s order strength in the Power segment.

In other recent news, GE Vernova has announced plans to expand its workforce by adding 250 jobs at its Charleroi, Pennsylvania factory, part of a broader $100 million investment in the state aimed at creating approximately 700 new jobs. This expansion is part of a larger $680 million investment plan announced since the beginning of the year, resulting in 1,750 new U.S. jobs. Additionally, the company has secured an order for seven natural gas turbines for the Homer City Energy Campus in Pennsylvania, which is transitioning from coal to natural gas to support AI and high-performance computing needs.

Meanwhile, JPMorgan has reiterated its Overweight rating on GE Vernova, maintaining a price target of $620.00, while cautioning about potential short-term weaknesses in the Power segment’s firm orders. Seaport Global Securities initiated coverage with a Buy rating and a $630.00 price target, expressing optimism about the company’s Power and Electrification divisions. BMO Capital raised its price target for GE Vernova to $590.00, focusing on the company’s Gas Power business and its growth potential through long-term service agreements. UBS also initiated coverage with a Buy rating, citing GE Vernova’s significant share in the global gas turbine market and projecting substantial earnings growth driven by rising electricity demand from AI and data centers.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.