The stock set a new all-time intraday high yesterday at $920.63 up $69.56 which seemed rather exuberant. It pulled back to close up "only" $31.57, squeaking out an all-time closing high at $882.64.
From Investing.com March 23:
Morgan Stanley raised its price target on GE Vernova to $960 from $817 citing improving demand for gas turbines, rising pricing and stronger medium-term growth tied to electrification.
Analysts said recent data points point to continued momentum across the business, with turbine demand running ahead of expectations into the first quarter and pricing trending higher for later-year orders.
“We expect Electrification will also support incremental medium-term growth and look towards Service & Nuclear opportunities in the 2030s for additional upside,” Morgan Stanley analysts say.
Gas turbine pricing is moving toward $3000 per kilowatt from about $2500 currently, implying roughly a 20% increase.
Morgan Stanley said this reflects stronger willingness to invest in power infrastructure, particularly tied to data center demand.The firm added that GE Vernova is largely sold out through 2028, with limited availability for 2029, meaning higher pricing is likely to be reflected in contracts over the next few years.
Morgan Stanley expects cumulative gas turbine orders to approach the company’s 100 gigawatt target by the end of the first quarter, positioning it for potential upside through the rest of the year....
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