Analyst Andrew Obin of Bank of America Securities reiterated a Buy rating on GE Vernova Inc., retaining the price target of $725.00.
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Andrew Obin has given his Buy rating due to a combination of factors including GE Vernova’s strong order forecast and favorable market conditions. The company is expected to achieve $12.4 billion in orders for the third quarter of 2025, which is above the consensus estimate, particularly driven by the Power segment. This robust order book is supported by the continued growth in U.S. electrical load and investments in the grid.
Additionally, the demand for gas turbines is on the rise, with GE Vernova projected to secure around 7 gigawatts of orders in the third quarter. Despite some concerns about supply chain constraints and competition, the overall demand environment remains positive, bolstered by significant power purchase agreements and regulatory approvals. Although there are expectations of a decline in U.S. onshore wind due to the phasing out of tax credits, the company’s overall outlook and valuation remain strong, justifying the Buy rating.
According to TipRanks, Obin is a 5-star analyst with an average return of 15.5% and a 64.85% success rate. Obin covers the Industrials sector, focusing on stocks such as Eaton, Emerson Electric Company, and Honeywell International.
In another report released yesterday, Morgan Stanley also maintained a Buy rating on the stock with a $690.00 price target.