GE Vernova Nears Record High After UBS Initiates ‘Buy’ With 15% Upside Price Target

GE Vernova’s (GEV) stock gained 2.6% on Monday to reach near all-time highs after UBS initiated coverage of the stock with a ‘Buy’ rating.

The brokerage also set the highest price target on Wall Street at $614, according to The Fly, implying a nearly 15% upside compared to the stock’s last closing price.

GE Vernova holds a 35% share of the global gas turbine market, and the firm projects 70% compounded earnings growth over the next five years, the highest among its coverage universe, according to the brokerage.

The company has benefited from the soaring demand for power driven by the growth of artificial intelligence data centers. GE Vernova executives have noted that the increase in electricity demand is comparable to the boom that followed the Second World War.

UBS analysts also reportedly noted that, while the company’s valuation remains elevated, it remains sustainable considering the potential for reacceleration in U.S. industrial activity and favorable tax reform tailwinds.

Retail sentiment on Stocktwits about GE Vernova was still in the ‘bearish’ territory at the time of writing, while retail chatter was ‘high.’ The stock has a consensus price target of $456.40, as per Fiscal.ai data.

Last month, Bloomberg News reported that the company was working with financial advisers over a potential sale of its Proficy software, which could fetch up to $900 million or even $1 billion.

The company’s project backlog could be threatened by the ‘Big Beautiful Bill,’ which was signed into law last week, as it ends renewable energy subsidies sooner than expected. However, its robust electricity infrastructure business would likely mitigate any impact on its wind segment.

GE Vernova stock has gained over 56% this year. Shares of the company were up 1.6% pre-market on Tuesday.

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