Key Stats for GE Vernova Stock
- 6-Month Performance: 37%
- 52-Week Range: $252 to $846
- Valuation Model Target Price: $1,723
- Implied Upside: 107.5%
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What Happened?
GE Vernova stock shares have climbed about 37% over the last six months, recently trading near $830 per share and approaching their $846 52 week high.
The rally has been driven by accelerating gas turbine orders, strong grid equipment demand tied to data center expansion, and raised 2026 guidance that reinforced long-term revenue visibility.
The stock moved higher because investors reacted to record orders and backlog growth that materially improved forward earnings visibility.
GE Vernova reported Q4 orders of $22.2 billion, up 65% year over year, lifting total backlog to a record $150 billion, including $64 billion of equipment backlog and $86 billion of services backlog.
Revenue for 2025 rose 9% to $38 billion, adjusted EBITDA margins expanded 210 basis points, and free cash flow reached $3.7 billion.
Management raised 2026 guidance to $44 billion to $45 billion in revenue and $5 billion to $5.5 billion in free cash flow, with CEO Scott Strazik stating that “’25 sets us up for substantially more profitable growth moving forward.”
Institutional positioning added further support. Stevens Capital Management boosted its stake by 56% to 3,640 shares valued at about $2.24 million, and Synovus Financial increased its position by 51.9% to 4,368 shares worth roughly $2.69 million.
Jupiter Asset Management initiated a new 82,058 share position valued at approximately $50.46 million, while New Millennium Group expanded its holdings by 144,866.7% to 8,698 shares valued at about $5.35 million, making GE Vernova its 14th largest position.
Harold Davidson & Associates increased its stake by 466.6%, and L & S Advisors raised its holdings by 12.1% to 13,921 shares valued at roughly $8.56 million.
Although some firms trimmed exposure, including Sigma Planning, which cut its position by 13.6%, and Cornerstone Advisors, which reduced its stake by 54.4%, overall activity reflects active portfolio repositioning rather than broad institutional selling.
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Is GE Vernova Undervalued?
Under valuation assumptions, the stock is modeled using:
- Revenue Growth (CAGR): 14.9%
- Operating Margins: 15.5%
- Exit P/E Multiple: 52.4x
Revenue is projected to expand from $34.9 billion in 2024 to nearly $69.6 billion by 2030 as global electricity demand accelerates and utilities invest in new gas capacity and grid modernization.
The company ended 2025 with approximately 83 gigawatts under contract in Gas Power and expects to approach 100 gigawatts in 2026, providing multi-year revenue visibility and long-term service revenue streams.
Margin expansion remains the core driver of long-term value. Operating margins are modeled to rise from 1.3% to 15.5%, supported by pricing strength in heavy-duty turbines, expanding services backlog, and operating leverage as production capacity ramps in the second half of 2026.
Electrification delivered 26% revenue growth in 2025, benefiting from grid equipment demand and direct data center exposure, which supports higher-margin mix improvement.
Management expects 2026 revenue of $44 billion to $45 billion with adjusted EBITDA margins of 11% to 13%, positioning this year as a backlog conversion phase where higher-priced contracts begin flowing through to earnings.
Free cash flow of $5 billion to $5.5 billion strengthens financial flexibility and supports capital returns.
Based on these inputs, the valuation model estimates a target price of $1,723, implying 107.5% total upside and approximately 29% annualized returns.
At current levels, GE Vernova appears undervalued, with 2026 likely defined by accelerating turbine shipments, sustained grid equipment demand, pricing discipline, and margin expansion as record backlog converts into durable earnings growth.
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