GE Vernova Inc., the Industrials sector company, was revisited by a Wall Street analyst yesterday. Analyst Andrew Obin from Bank of America Securities reiterated a Buy rating on the stock and has a $804.00 price target.
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Explore GEVX for 2X leverage on GEVAndrew Obin has given his Buy rating due to a combination of factors that point to accelerating growth and improving profitability at GE Vernova. He highlights the unexpectedly strong late‑year surge in gas‑power orders, with an additional 6GW of signings that lift firm order expectations for 2026 to about 35GW, above 2025 levels. He also notes that the quality of the backlog is improving, as embedded equipment margins have risen sharply over the last three years, creating a more profitable revenue pipeline. In his view, the Prolec acquisition further boosts earnings power, supporting his above‑consensus adjusted EBITDA forecasts.
Obin raises his 2026 adjusted EBITDA estimate to $5.8 billion and projects $8.5 billion for 2027, implying robust double‑digit growth and meaningful margin expansion. He underscores growing visibility in the gas‑power business, with a substantial backlog and slot reservations expected to reach roughly 100GW by the end of 2026, backed by expanding production capacity. Recent quarterly results also showed a strong orders beat, a healthy book‑to‑bill ratio, and solid free cash flow, despite a temporary offshore wind pause that pressured earnings. Taken together, stronger demand, rising margins, incremental M&A contribution, and improving cash generation underpin his positive view and support the Buy rating.
According to TipRanks, Obin is a 5-star analyst with an average return of 16.2% and a 66.60% success rate. Obin covers the Industrials sector, focusing on stocks such as Eaton, GE Vernova Inc., and 3M.
In another report released today, Barclays also maintained a Buy rating on the stock with a $830.00 price target.