Al Root
It's been an epic week for GE Vernova, and it's not over yet.
Friday, Jefferies analyst Julien Dumoulin-Smith raised his price target for GE Vernova stock to $1,350 from $965, and kept his Buy rating. Wall Street earnings estimates are still too low following the company's first-quarter earnings report, he says.
Vernova reported better-than-expected earnings and raised full-year financial guidance on Wednesday, sending shares up 14% to $1,127.56.
The speed at which things have improved is a little surprising. GE Vernova expects its backlog for power generation and electrification equipment and services to reach $200 billion by the end of 2026, about 2 years ahead of schedule. Demand is soaring, thanks in part to power-hungry AI data centers that have sparked an electricity-building boom not seen since the post-World War II era.
Now, Wall Street expects Vernova to report 2027 earnings per share of about $24. A year ago, that number was roughly $18. It still might be too low. And the business should remain strong through the end of the decade, according to Dumoulin-Smith.
His $1,350 price target isn't the highest on the Street. That belongs to Baird analyst Ben Kallo, who raised his target to $1,400 a share from $1,008 following earnings.
That's about 22% above recent levels. Wall Street price targets, however, just haven't been much help with GE Vernova stock lately.
Currently, the average analyst price target for GE Vernova stock is $1,130 a share, according to FactSet, up about $161 since the first-quarter earnings report. The average analyst price target was about $408 a year ago.
Overall, 78% of analysts covering the company rate shares Buy. The average Buy-rating ratio for stocks in the S&P 500 ranges from about 55% to 60%.
That's 31 analysts with Buy ratings. There are only 15 price targets on FactSet higher than the $1,149.50 level at which shares closed on Thursday.
Wall Street price targets are still chasing the stock.
It's been hard to catch. Coming into Friday trading, GE Vernova's stock was up 76% this year and up 219% over the past 12 months.
GE Vernova stock was up 2% in premarket trading Friday at $1,172 a share, while S&P 500 and Dow Jones Industrial Average futures were up 0.4% and down 0.1%, respectively. Coming into Friday trading, GE Vernova stock was up about 15% for the week.
Write to Al Root at allen.root@dowjones.com
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April 24, 2026 08:22 ET (12:22 GMT)
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