TLDR
- Morgan Stanley raised its GEV price target to $960 from $817, keeping an Overweight rating
- Evercore ISI lifted its target to $940 from $905, maintaining an Outperform rating
- Both firms cited strong turbine demand and improving pricing as key drivers
- A $40 billion U.S.-Japan deal to build small modular nuclear reactors in Tennessee and Alabama added to the buying
- GEV reported a 54% year-over-year jump in gas turbine orders in 2025
GE Vernova stock jumped more than 7% on Monday morning, outpacing a broader market rally that saw the S&P 500 rise around 2.1%. The move came as two major Wall Street firms raised their price targets on the same day.
Morgan Stanley kept its Overweight rating and lifted its target to $960 from $817. Evercore ISI held its Outperform rating and moved its target to $940 from $905. Both arrived on the same morning, and the market took notice.
The catalyst wasn’t just the analyst notes. News broke of a $40 billion U.S.-Japan deal to build small modular nuclear reactors in Tennessee and Alabama. That agreement lit a fresh spark under GEV, with investors viewing it as a long-term revenue driver for the company.
Morgan Stanley’s upgrade came after encouraging updates on turbine demand and pricing. The firm noted that utilities are planning to expand gas plant projects beyond 2030, extending the demand runway further than many had expected. GEV was trading around $851 heading into the session.
In 2025, the company posted a 54% year-over-year increase in gas turbine orders. It’s projecting gas turbine deliveries will hit 20 gigawatts of annualized output by mid-2026, rising to roughly 24 gigawatts by 2028.
Evercore Raises Estimates Through 2028
Evercore ISI lifted its EBITDA estimates by 3% to 7% for fiscal years 2026 through 2028. The firm pointed to non-deal roadshow meetings with GE Vernova management, saying Q1 is shaping up to be another strong period for orders and free cash flow.
Pricing is improving quarter-over-quarter, the firm said. It also flagged that Japan’s investment in U.S. infrastructure is adding to the company’s long-term value picture.
GEV has a market cap of around $229 billion and holds more cash than debt on its balance sheet. The stock is up roughly 30% year-to-date heading into Monday’s session.
Rothschild Redburn recently upgraded GEV to Buy with a target of $1,100, citing accelerated demand for AI infrastructure and gas turbines. Erste Group also started coverage with a Buy rating, pointing to the company’s position in data center and AI expansion.
Strong Orders Back Up the Bullish Case
GE Vernova completed a $2.6 billion senior notes offering to fund its acquisition of the remaining 50% stake in Prolec GE. That deal has since been finalized.
The company also declared a quarterly dividend of $0.50 per share, payable in April 2026 to shareholders of record in March.
Evercore described GEV as offering “earnings momentum and visibility” in the current geopolitical environment. The stock’s 52-week range runs from $252.25 to $920.63, and Monday’s session pushed it toward the top of that band.
As of 10:31 a.m. ET, GEV was trading up around 7.2%, with volume tracking near its daily average of 2.8 million.
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