Melius Upgrades GE Vernova To Buy, Boosts Target To $740 On Power Demand Growth

Melius upgraded GE Vernova (NYSE:GEV) to Buy from Hold and raised its price target to $740, citing rising global power demand and strong pricing power.

The firm said the stock had already risen fivefold since its spin-off but argued the backdrop for energy demand and pricing trends continued to strengthen. Analysts forecasted upside to earnings estimates over the next several years, noting that pricing power would become increasingly evident by 2028.

The $740 target was based on 34 times the 2027 estimate and 20 times the early 2028 forecast, reflecting confidence in the company’s long-term growth trajectory.