GE Vernova Inc. Receives Buy Rating from Andrew Obin Amidst Projected Growth in U.S. Electrical Demand and Strategic Expansions

Andrew Obin, an analyst from Bank of America Securities, reiterated the Buy rating on GE Vernova Inc. (GEV – Research Report). The associated price target was raised to $550.00.

Andrew Obin has given his Buy rating due to a combination of factors that highlight the growth potential of GE Vernova Inc. He anticipates a significant increase in U.S. electrical demand, projecting a 2.5% compound annual growth rate from 2024 to 2035. This growth is expected to necessitate approximately 1,000 gigawatts of new power generation capacity, with a substantial portion being natural gas turbines, an area where GE Vernova holds a strong market position.
Additionally, Obin has raised his revenue estimates for GE Vernova’s Power segment, forecasting a 25% revenue CAGR over 2024-2028, which is an increase from previous estimates. This optimism is supported by GE Vernova’s strategic capacity expansions and investments in its Electrification segment, which are expected to meet the rising demand for grid reliability equipment. The company’s strong market share and strategic initiatives underpin the increased price objective of $550, reflecting a premium valuation due to anticipated earnings growth and margin expansion.

In another report released on June 9, Barclays also maintained a Buy rating on the stock with a $550.00 price target.