That seems rather exuberant. To get there the company is going to have to buy or build gas turbine production as well as lining-up more nuclear orders.
The stock is trading up $80.18 (+12.82%) at $705.48.
From Barron's, December 10:
When it comes to GE Vernova stock, investors believe. Boy, do they. JPMorgan believes so much that it raised its price target to $1,000.Wall Street success, of course, is a little different than business success. The latter can involve consistent profitability and growth in an attractive market. The former, however, starts with investors believing that guidance and numbers will show consistent improvement.
Wall Street success shows up, of course, in a stock chart and valuation ratios too. GE Vernova, in its brief history as a stand-alone company, is building a legacy of both business and Wall Street success.
Coming into Wednesday trading, GE Vernova stock was 90% year to date, but shares were down 3% over the past three months. Investors were a little worried that the stock had rushed past fundamental improvement.
The power equipment technology company met with investors on Tuesday night to discuss 2026 and longer term goals. The company nailed the gathering. Guidance for 2028, implying Ebitda of more than 10 billion, beat already elevated expectations. What’s more, the dividend was doubled, reflecting management’s confidence in the strength of the business now and in the future.
GE Vernova stock was up 15.2% at $720.02, a new 52-week high, while the S&P 500 SPX +0.12% and Dow Jones Industrial Average DJIA+0.50% were down 0.2%.And no analyst seemed more pleased than JPMorgan’s Mark Strouse, who increased his price target on Buy-rated GE Vernova stock to $1,000, from $740, anew high-water mark on the Street, according to FactSet.
Fourth quarter “order activity significantly exceeded expectations, and the company continues to test higher pricing on each deal,” wrote in a Wednesday report. “The [grid] electrification business also positively surprised, with backlog expected to double by 2028, after already doubling from year-end 2023 levels.”
Not everyone came away as bullish as Strouse. Guggenheim analyst Joseph Osha said there was “some upside” to his valuation model, but the good news was “already in the stock.” He rates shares Hold and doesn’t have a price target for the stock....
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