On July 21, GE Vernova rose 4.4% in regular trading, trading at approximately $1,110.44/share, with turnover of $4.57 billion. The rally comes one day ahead of the company's scheduled quarterly earnings release on July 22 before market open.
On the news front, Bank of America Securities issued a research note forecasting GE Vernova's Q2 orders at $19.6 billion, representing 59% year-over-year growth and modestly exceeding consensus expectations of $19.4 billion. BofA maintained its buy rating with a price target of $1,310, citing the electrification segment and the recent Prolec joint venture buy-in as the most likely source of upside.
Market consensus projects Q2 revenue of approximately $10.74 billion, up 22.11% year-over-year, with adjusted EPS of $3.12, representing 107% growth. AI data center power demand continues to drive gas turbine orders, with the company's backlog extending through 2031 and turbine prices having risen approximately 300% over the past three years.
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