Key Stats for GE Vernova Stock
- Past-Week Performance: +5.2%
- 52-Week Range: $252.3 to $894.9
- Current Price: $841.3
What Happened?
GE Vernova‘s backlog grew 50% in four years to $150 billion, transforming a spun-out industrial into one of the most contracted power infrastructure companies on earth, with shares at $841.27.
On January 28, GE Vernova raised full-year 2026 revenue guidance to $44–$45 billion, up from $41–$42 billion, after booking $22.2 billion in Q4 2025 orders alone at a 2x book-to-bill ratio.
Gas Power equipment backlog and slot reservations surged from 62 to 83 gigawatts sequentially in Q4, with the company targeting 100 gigawatts under contract by year-end 2026 while adding $8 billion in equipment backlog margin dollars during 2025.
CEO Scott Strazik told investors on the Q4 2025 earnings call that slot reservation agreements carry 10 to 20 points of pricing strength above existing backlog, with further demand commentary expected at the March 18 Bank of America Global Industrials Conference.
Meanwhile, the February 2 close of the Prolec GE acquisition and the March 3 completion of the $600 million Proficy software sale to TPG sharpen GE Vernova’s identity around power generation and grid infrastructure heading into a multiyear capacity ramp.
By 2028, GE Vernova projects at least $56 billion in revenue at 20% EBITDA margins, backed by $11 billion in cumulative CapEx and R&D, with gas turbine delivery slots already stretching into the late 2020s and global power demand showing no signs of slowing.
Wall Street’s Take on GE Vernova Stock
The $150 billion backlog GE Vernova entered 2026 with forces analysts to rethink this stock as a long-cycle infrastructure compounder, not a cyclical industrial.
Revenue is forecast to reach $44.5 billion in 2026, up 16.8% from $38.1 billion in 2025, while EBITDA margins are projected to expand from 8.4% to 12.8% over the same period.
Accordingly, 31 analysts currently cover GEV with 21 Buys, 6 Outperforms, and 5 Holds against just 1 Underperform and 1 Sell, with the mean price target sitting at $826.42, roughly 1.8% below the current $841.27 close.
The high target of $1,019 reflects full execution on the 100-gigawatt gas contract target and Prolec GE integration upside, while the low target of $424.45 captures the offshore wind losses and tariff exposure already embedded in Q1 2026 guidance.
What Does the Valuation Model Say?
A mid-case valuation model projects a target price of $2,767.15 by December 2030, implying a 228.9% total return from current levels. The model’s 28% annualized IRR stands well above typical industrial sector return expectations.
The market appears to be discounting GE Vernova’s pricing power, ignoring the 10 to 20 points of incremental pricing strength embedded in current slot reservation agreements above existing backlog.
EBITDA grew 57.1% in 2025 and is forecast to expand another 78.6% in 2026, a compounding trajectory most industrial stocks do not sustain past a single cycle.
Management’s decision to raise the buyback authorization to $10 billion and double the dividend signals internal conviction that the current price materially understates the business’s earnings power through 2028.
The single biggest risk is Wind segment losses exceeding the $400 million guided for 2026, particularly if the Vineyard Wind stop work order prevents billing on $250 million of revenue tied to the remaining 11 turbines.
Furthermore, CEO Scott Strazik will be speaking at the Bank of America Global Industrials Conference on March 18, which represents the next key moment for guidance confirmation and gas demand commentary.
GEV is a structural buy driven by an irreplaceable power infrastructure position; track gas gigawatts under contract as the primary indicator of long-term earnings compounding.
Should You Invest in GE Vernova Inc.?
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