Gas Turbine Concept Stocks Mostly Higher as Citigroup Raises GE Vernova Outlook

Stock News11:40

Gas turbine concept stocks mostly advanced. At the time of writing, IMPRO PRECISION (01286) rose 7.08% to HK$9.68, HARBIN ELECTRIC (01133) increased 3.29% to HK$23.26, and WEICHAI POWER (02338) gained 1.91% to HK$36.22. A Citigroup research report noted that GE Vernova (GEV.US) reported first-quarter gas power equipment orders and reserved capacity reaching 21GW. The company's equipment backlog and reserved capacity grew to 100GW from 83GW in the fourth quarter, reflecting strong global demand for gas turbines. Citigroup raised its 2026 outlook for GE Vernova, forecasting revenue between $44.5 billion and $45.5 billion, and increasing its adjusted EBITDA margin forecast to 12%-14%. According to Oriental Securities, gas turbine demand has surged since the rise of generative AI. Data from Global Energy Monitor indicates that global gas-fired power expansion is constrained by gas turbine production capacity, with backlogs generally extending to 2030. The firm believes that as the global shortage of gas turbines intensifies and domestic Chinese turbine manufacturers actively expand their overseas operations, Chinese-made gas turbines are expected to accelerate their share of the global market.

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