Overview
- Wells Fargo lifted its GE Vernova price target to $896 from $831, and the stock traded about 5.7% higher to roughly $864 at publication.
- The call extends a wave of positive views, with Evercore ISI raising its target to $940 and boosting 2026–2028 EBITDA estimates, Morgan Stanley at $960, and Rothschild & Co at $1,100, even as the average target sits near $822.
- Recent research highlights a total backlog near $150 billion after more than 25% growth last year, including about $70 billion in long-term service work that tends to carry higher profit.
- Demand is building as AI data centers draw more power, cars and buildings switch to electricity, and utilities strengthen the grid, which lifts orders for turbines, transformers, and control software.
- GE Vernova also confirmed a nuclear fuel contract extension with Entergy through 2035 for the Grand Gulf and River Bend plants, adding further multi‑year revenue visibility.