Key Takeaways
- GE Vernova stock is 24% below its June 30 high, and on Oct. 29 Susquehanna kept its Positive rating with a $1,250 target, 38% above the current price.
- Susquehanna’s case rests on gas turbines: 122 gigawatts under contract after the third quarter, at higher prices.
- At $1,250, GE Vernova would trade at about 55x forward earnings, its one-year average, against 38x at the Oct. 28 close, and analysts’ estimates have barely changed since June.
- The target looks within reach if estimates hold, and the fourth-quarter report in late January will show whether gas contracts reached the 130 gigawatts management expects.
GE Vernova (GEV) beat estimates and raised its 2026 guidance on Oct. 28, and the stock still sits 24% below its June 30 high. Susquehanna is sticking with it: on Oct. 29, the firm kept its Positive rating and a $1,250 price target, 38% above the current price.
A miss, an AI scare and a messy beat
The slide started in July, when Power’s second-quarter revenue grew 14% organically, short of the company’s own 15%-17% guide.
Then the stock fell nearly 11% in a day on Oct. 22, as AI infrastructure stocks sold off after Meta’s earnings.
In the Oct. 28 report, GE Vernova widened its expected Wind losses to $400-$500 million and said fourth-quarter gas orders will carry a lower price per kilowatt. It also agreed to buy Trench Group for $9 billion, half of it funded with new debt.
Susquehanna’s case: more gas, at better prices
Susquehanna analyst Charles Minervino trimmed his target from $1,270. His case rests on gas: GE Vernova signed 11 gigawatts (GW) of new gas contracts in the third quarter, taking it to 122 GW under contract, at prices more than 20% above fourth-quarter 2025 orders.
In the results release, Strazik promised more: “We now expect our backlog to exceed $200 billion in the fourth quarter, with improved margins, and to exit 2026 with at least 130 GW of gas equipment under contract.”
TIKR tracks 37 analysts on GE Vernova. How many say “Buy”?
See the full breakdown of Buy, Hold, and Sell ratings on GE Vernova, along with Wall Street’s revenue and earnings estimates, all in one place. More than 500,000 investors use TIKR to research stocks like this one. See GE Vernova’s Analyst Ratings
$1,250 only needs the stock’s usual multiple
The 37 analysts covering GE Vernova have lifted their consensus target to $1,217, from $678 a year ago:
Not every firm is that bullish. On Oct. 29, J.P. Morgan cut its target to $1,035, and Citi, which rates the stock Neutral, trimmed its own to $1,000.
The earnings behind those targets have held up well, though, with normalized EPS expected to more than double between 2026 and 2028:
(2025’s figure carries a one-time $2.9 billion tax benefit.) The 2027 and 2028 estimates have barely moved since June, and the raised guidance gives analysts no reason to cut them.
So the drop came from the multiple. GE Vernova closed Oct. 28 at 38x forward earnings, its lowest in the past year:
Divide Susquehanna’s $1,250 by the $22.88 a share analysts expect over the next twelve months, and you get about 55x, right at its one-year average.
It all comes back to gas
The one-year average was set while AI power stocks were in favor, and analysts’ 2028 revenue estimate of around $61 billion already sits above management’s own target of at least $56 billion.
My take: I think Susquehanna’s $1,250 looks within reach if estimates hold and the multiple climbs back to its one-year average. In late January, the fourth-quarter report will tell us whether GE Vernova really ended the year with the 130 GW Strazik promised.
So what is GE Vernova stock actually worth?
TIKR lets you forecast the future price of any stock in less than a minute. Just enter a few assumptions into TIKR’s valuation model and see what GE Vernova could be worth. Start from Wall Street consensus estimates, or adjust the inputs to reflect your own view of the business. It’s free to use.
Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any of the stocks mentioned. Thank you for reading, and happy investing!
