GEV
BofA’s still in the GE Vernova camp
If you were looking for a reason BofA Securities still likes GE Vernova, here it is: the firm thinks demand for power-generation and grid gear is still running hot enough to keep the company’s growth story intact. Analyst Andrew Obin reiterated a Buy rating and kept the price target at $1,310, which is basically Wall Street saying, “Yes, this name is expensive, and yes, we still want it.”
The order book is doing the heavy lifting
BofA expects GE Vernova to post another chunky quarter, with total orders of $19.6 billion — up 59% from a year ago and just above consensus. The big engines behind that forecast are:
- Power orders of $11.1 billion
- Electrification orders of $7 billion
- Wind orders of $1.6 billion
The firm is especially upbeat on gas-power demand, projecting 13 gigawatts of equipment contracts in the quarter. In other words, the company’s power story is still looking less like a niche industrial and more like infrastructure with a caffeine problem.
Wind is still the buzzkill
Not everything is sparkling. BofA expects Wind revenue to fall 16% year over year, with the U.S. onshore market still acting like it missed the memo. But the bigger takeaway is that Power and Electrification are doing enough of the heavy lifting to offset the pain.
Separately, GE Vernova said it won two grid contracts from Stromnetz Berlin to build 110-kilovolt gas-insulated substations in Wittenau and Neukölln. That’s another small-but-telling win for its Electrification business, and it shows the company is still planting flags in Europe’s grid-modernization push.
Why investors should care
The stock was down 3.36% at the time of publication, so the market clearly wasn’t in a buying-mood victory lap. But when analysts are modeling 59% order growth and a premium valuation, the argument is simple: GE Vernova is still being treated like a power-infrastructure growth story, not just a legacy utility gear maker.
Big picture: if demand stays this strong and execution doesn’t trip over its own shoelaces, GE Vernova may keep earning that premium multiple.