Why GE Vernova Stock Jumped Today
Key Points
GE Vernova expects its business to grow rapidly in the coming years, driven by the data center buildout.
The gas turbine giant just doubled its dividend and raised its share buyback program.
President Trump's push for AI, nuclear energy, and rare earths could mean huge opportunities for GE Vernova.
- 10 stocks we like better than Ge Vernova ›
After a woeful Wednesday, shares of GE Vernova (NYSE: GEV) rebounded on Thursday, surging 7% in early morning trading after winning at least a couple of analyst upgrades.
Both analysts project at least 30% upside in GE Vernova shares. There's some merit in those expectations, given GE Vernova's latest investor updates that highlight robust growth ahead.
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GE Vernova's growth goals
Analysts from Baird raised their price target on GE Vernova stock to $816 per share from $706 a share. Analysts from Jefferies awarded the stock a similar price target of $815 per share, up from their previous price objective of $736 a share. Based on the stock's Wednesday closing price of $614.19 a share, the fresh analyst targets represent nearly 33% upside.
The data center buildout and electrification are driving unprecedented demand for electricity, setting GE Vernova up for significant growth. The company made some big announcements on Dec. 9:
- It is already sold out on new equipment through 2028.
- It expects to exit 2028 with a backlog of $200 billion versus its current backlog of $135 billion.
- It expects revenue to surge to $52 billion by 2028, up significantly from its estimated revenue of around $36 billion for 2025.
- It doubled its quarterly dividend to $0.50 per share and increased its share repurchase program to $10 billion from $6 billion.
- It expects to generate $22 billion in cumulative free cash flows between 2025 and 2028, paving the way for bigger shareholder returns.
These encouraging updates are prompting analysts to turn bullish about GE Vernova stock.
GE Vernova stock could just be getting started
GE Vernova has a lot going for it. While its core gas turbine business is booming, the company is also developing small modular reactors and collaborating with the U.S. government on rare earths. Both nuclear energy and rare earths are highly promising growth areas under the Trump administration.
With the Trump Media & Technology Group also announcing a blockbuster merger with nuclear fusion pioneer TAE Technologies on Thursday morning, investors in GE Vernova see greater credibility in the nuclear energy renaissance and the company's role in powering the AI data center buildout.
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Neha Chamaria has no position in any of the stocks mentioned. The Motley Fool recommends Ge Vernova. The Motley Fool has a disclosure policy.
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