Bank of America projects 44% YoY Q3 order growth for GE Vernova and reaffirms $1,310 price target
Bank of America Securities analyst Andrew Obin issued a pre‑earnings note projecting third‑quarter orders of $21.0 billion, a 44% year‑over‑year increase, and reaffirmed a Buy rating with a $1,310 price target for GE Vernova. The note also highlighted a new 372‑MW gas‑turbine contract in Côte d’Ivoire and fresh institutional buying, which lifted the stock 4.4% in morning trade. Obin expects Q3 revenue of $12.4 billion and adjusted EBITDA of $1.8 billion, both above Wall Street estimates.
Why it matters
The projected order surge and higher revenue forecast suggest stronger earnings than consensus, which could drive the stock higher ahead of the Q3 results (the company’s note says). The $1,310 price target implies roughly a 47% upside from the recent close of $890.33.
Key facts
- 1GE Vernova stock rose 4.4% in morning trading. investing.com
- 2Bank of America projected third‑quarter orders of $21.0 billion, up 44% YoY. finance.yahoo.com
- 3The analyst reaffirmed a Buy rating and a $1,310 price target. finance.yahoo.com
- 4GE Vernova was selected to supply a 9E gas turbine and generator for a 372‑megawatt combined‑cycle plant in Côte d’Ivoire. investing.com
- 5Obin expects Q3 revenue of $12.4 billion. finance.yahoo.com
- 6Obin expects adjusted EBITDA of $1.8 billion for the quarter. finance.yahoo.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.