GE Vernova Shares Are Poised For More Upside After Blowing Past Wall Street Targets, Analysts Predict

Wall Street analysts have been swiftly revising their forecasts for GE Vernova this week, following a surprising surge in the company’s stock price after it posted stronger-than-expected second-quarter results.

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GE Vernova’s shares soared more than 14% on Wednesday, setting a new all-time high. The company’s bullish update, which included a raised full-year earnings forecast, was driven by increasing power demand that appears to be outweighing the effects of President Donald Trump’s newly implemented tariffs. So far this year, the stock has nearly doubled, making it the second-best performer in the S&P 500.

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Citi analyst Andrew Kaplowitz admitted that the stock’s rally was unexpected, given the already high expectations heading into the earnings report. In a note to clients published Wednesday, Kaplowitz said, “Given what we viewed as elevated expectations ahead of GEV’s 2Q25 earnings, we are somewhat surprised in the strength of GEV shares’ outperformance.”

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However, rather than viewing the sharp rise as an overreaction, Citi raised its price target for GE Vernova by $126, now projecting a value of $670 per share. This represents a potential gain of just over 6% from Wednesday’s closing price. Kaplowitz noted that the company stands out as a major beneficiary of surging global power demand, suggesting the stock may continue to climb beyond previous estimates.

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Much of this optimism stems from strong demand for GE Vernova’s gas turbines, especially from developers of AI data centers. Orders for the company’s equipment increased by more than 135%, reinforcing a “stronger for longer” thesis for the global gas market, according to Wolfe Research analyst Nigel Coe. In his note to clients, Coe emphasized that GE Vernova’s expanding order backlog is a sign of solid future revenue.

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Beyond gas turbines, GE Vernova is positioning itself as a leader in the small modular reactor (SMR) space — a promising area in nuclear energy. The company is the first Western firm to begin construction on a commercial SMR, with a project already underway in Ontario, Canada. This venture could become a cornerstone of the company’s long-term growth strategy as the world looks for cleaner and more reliable energy sources.

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The offshore wind segment, however, still faces hurdles. While it has not performed as well as other divisions, analysts like Kaplowitz believe those challenges are currently manageable and are largely being overshadowed by the company’s successes in other parts of the business.

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Bank of America also expressed optimism, lifting its price target by $105 to $725 per share — suggesting a 15% upside from Wednesday’s market close. In its note to clients, the bank highlighted that data centers had placed $500 million in electric equipment orders during the first half of 2025 alone, already nearing the $600 million total from all of 2024. BofA analyst Andrew Obin argued that GE Vernova’s superior earnings growth and margin outlook justify a higher valuation compared to its peers. “We argue that a premium multiple is warranted given above-peer earnings growth and margin trajectory,” Obin stated.

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Wells Fargo joined the chorus of upgrades, significantly increasing its price target by $224 to $674 per share. That forecast implies a 7% gain from the current price. Analyst Michael Blum cited long-term trends favoring the company, including rising turbine and equipment prices, which are expected to support sustained revenue and earnings growth.

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Despite the overall bullish tone, Wolfe Research issued a word of caution. Analyst Nigel Coe warned that while there’s a lot to like about GE Vernova, much of the good news may already be priced into the stock. “There’s a lot to like, but a lot is priced in,” Coe remarked, reminding investors to remain mindful of the stock’s rapid appreciation.

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In summary, GE Vernova’s robust second-quarter performance has significantly boosted its appeal on Wall Street. A mix of strong gas turbine demand, leadership in emerging nuclear technology, and continued momentum in the energy sector has led analysts to reassess the company’s value. While most see continued upside potential, some remain wary that expectations may be running a bit ahead of reality. Nonetheless, the company’s position as a key player in the future of global energy seems increasingly secure.

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