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Can GE Vernova Reach $1,100 by 2030?
25 Oct
Summary
- GE Vernova's backlog has grown to $176 billion.
- Management targets $56 billion in revenue by 2028.
- Stock price target of $1,100 by late 2030 is projected.
GE Vernova's stock is currently trading near $825, a notable decrease from its June peak. However, the company's business expansion continues, evidenced by its $176 billion backlog at the end of June. This backlog is nearly four times the anticipated revenue for the current year. Management anticipates reaching a $200 billion backlog by the end of 2028, potentially achieving this goal a year early in 2027.
Gas turbines are a significant growth area, with backlogs and reservation agreements reaching 116 gigawatts by the second quarter. Orders for gas equipment in the first half of 2026 were priced over 20% higher than those booked in the last quarter of 2025. Management projects 2028 revenue to reach $56 billion with a 20% adjusted EBITDA margin. By late 2030, the stock could be valued at approximately $1,100 per share, assuming a continued growth rate and a consistent margin.
Despite these positive projections, the stock's current valuation reflects significant expectations. The company is actively engaged in share buybacks, having repurchased 4.3 million shares in the first half of 2026. While the business is expected to grow, the wind unit is forecast to incur an EBITDA loss of around $400 million this year. Investors are advised to consider the stock's volatility and potential returns before making investment decisions.
