Analysts Boost GE Vernova Target to $960 with 20% Turbine Price Hike
Morgan Stanley raised GE Vernova’s price target to $960, citing 20% gas turbine pricing growth to $3,000/kW and sold-out backlog through 2028. BofA forecasts Q1 equipment orders of 12–24 GW versus 8 GW last year and notes a plan to double its $30 billion backlog by 2028, backed by a $150 billion HVDC pipeline.
1. Morgan Stanley Increases Price Target
Morgan Stanley raised its price target on GE Vernova to $960 from $817, citing stronger gas turbine pricing, up roughly 20% to $3,000 per kilowatt, and a sold-out order book through 2028.
2. Gas Turbine Demand and Pricing
Turbine demand has run ahead of expectations into Q1, with pricing trends higher for later-year orders, reflecting stronger investment in power infrastructure driven by data center demand.
3. BofA’s Order Forecast and Backlog Plans
BofA forecasts Q1 gas power equipment orders of 12–24 GW versus 8 GW last year and highlights a plan to double GE Vernova’s $30 billion backlog by 2028, supported by a $150 billion HVDC pipeline.
4. Electrification and Nuclear Opportunities
Growth drivers include over $2 billion in 2025 data center electrification orders and an MoU with Hitachi for small modular reactor deployment in Southeast Asia, with service and nuclear prospects into the 2030s.