What It Does: GE Vernova is the energy business spun off from General Electric in early 2024. It manufactures gas turbines, wind turbines, grid infrastructure equipment, and power conversion systems. As AI data centers drive unprecedented electricity demand, GEV is positioned as a primary beneficiary: its gas turbines provide the reliable baseload power that renewables alone cannot deliver, and its grid equipment (transformers, switchgear) is essential for connecting new capacity to the grid.
How the Stock Looks: GEV trades near $375 in mid-April 2026 — a stunning performance since its spin-off debut around $135. Revenue growth is accelerating to 8–10%, driven by gas turbine orders and grid equipment backlogs. Margins are expanding as the turnaround in the onshore wind segment reduces losses. The stock trades at roughly 40x forward earnings, reflecting the rare combination of infrastructure stability and AI-driven growth.
What Analysts Are Saying: 15 analysts rate GEV a Buy with an average price target of $400. Morgan Stanley and Bank of America are the most vocal bulls, framing GEV as the “shovels play” for the AI-driven power buildout. Bears worry about onshore wind profitability and supply chain costs. But the gas turbine backlog — measured in years, not quarters — provides exceptional visibility.