Jefferies has increased its price target on GE Vernova (NYSE: GEV) to $930.00 from $865.00 while keeping a Buy recommendation, following the company’s fourth-quarter earnings call. At the time of the update GEV was trading at $711.59, carrying a market capitalization of $185.82 billion and trading near its 52-week high of $731.
The higher target reflects greater bullishness on the company’s outlook. Jefferies pointed to what it described as a potential "10-20 point incremental margin opportunity" that could lift Power equipment EBITDA to roughly 30% - which the firm characterized as levels rarely seen across the industry and indicative of GEV’s premium pricing power.
Supporting the more optimistic view, several analysts have recently adjusted their earnings expectations upward. According to proprietary data cited by analysts, four analysts raised earnings forecasts for the upcoming period, and the highest analyst price target among those tracked reached $1,000.
Jefferies also increased its Power segment EBITDA projections for 2029 and 2030, raising those forecasts by 24% and 35% respectively. The firm’s revisions underscore a materially stronger outlook for the power business over the medium term.
Current company metrics cited alongside the analyst commentary show GE Vernova reporting EBITDA of $2.7 billion and revenue of $38.07 billion, with year-over-year growth of 8.97% over the last twelve months.
Jefferies noted that the market reaction to the company’s results was more muted than some investors might expect, attributing the softer stock response in part to underperformance in GE Vernova’s Wind business. Nevertheless, the firm emphasized the presence of "numerous underappreciated catalysts" and asserted that the "threat of substitutes is clearly fading away."
Recent quarterly results provided context for the analyst upgrades. For the fourth quarter of 2025 GE Vernova reported earnings per share of $13.39, well above the consensus expectation of $3.22 - a surprise exceeding 315%. Revenue for the quarter came in at $11 billion versus a forecast of $10.23 billion.
Other brokerages also moved to raise their targets following the results. TD Cowen raised its price target to $780 and maintained a Buy rating. BMO Capital lifted its target to $785, citing growth in gas turbine orders. Oppenheimer increased its target to $871 while noting that challenges in the Wind business influenced both the fourth-quarter 2025 results and the company’s guidance for 2026.
The cluster of analyst upgrades and the magnitude of the Q4 beat appear to have sustained investor interest and reinforced analyst confidence in GE Vernova’s prospects, particularly in the Power segment. At the same time, the Wind business remains a focal point of investor scrutiny given its effect on near-term results and guidance.
What this means:
- Jefferies’ target increase signals stronger expectations for margin expansion in Power equipment.
- Several brokerage firms have adjusted price targets higher and kept Buy ratings following robust earnings and order trends.
- Wind business performance continues to temper some market reactions despite broader optimism around Power.