Electrification Demand Drives Turbine Pricing Strength, GE Vernova Price Target Raised

LootboxPhobia · 2026-03-24T01:06:41+00:00

Morgan Stanley has raised its price target for GE Vernova from $817 to $960, mainly due to increased demand for gas turbines and rising prices. Analysts expect the electrification business to drive mid-term growth and remain optimistic about contract pricing in the coming years, with market expectations projected to increase by 2030.

LootboxPhobia

2026-03-24 01:06:41

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Investing.com - Morgan Stanley has raised the target price for GE Vernova from $817 to $960, citing improved demand for gas turbines, rising prices, and stronger mid-term growth prospects related to electrification.

The broker maintains an overweight rating on the stock. On Monday, the company’s stock surged 5% amid a broader market rally.

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Analysts say recent data shows the business continues to maintain its growth momentum, with turbine demand in the first quarter exceeding expectations, and pricing for orders in subsequent years trending upward.

“We expect the electrification business to also support incremental mid-term growth, and look forward to additional upside from services and nuclear energy in the 2030s,” said Morgan Stanley analysts.

Gas turbine prices are moving from around $2,500 per kilowatt to $3,000, representing approximately a 20% increase.

Morgan Stanley notes this reflects increased willingness to invest in power infrastructure, especially related to data center demand.

The firm adds that GE Vernova’s capacity is essentially sold out through 2028, with limited available capacity in 2029, suggesting that contracts signed in the coming years are likely to reflect higher prices.

Morgan Stanley expects gas turbine orders to approach the company’s 100 GW target by the end of the first quarter, laying the groundwork for potential upside for the rest of the year.

Beyond turbines, the broker points out that the electrification trend is a key growth driver. It highlights increased adoption of high-voltage DC systems in data centers and utilities extending gas generation plans beyond 2030. The firm also believes that service and nuclear energy opportunities over the next decade will provide additional upside.

Morgan Stanley has raised its revenue and EBITDA forecasts, and suggests that market consensus expectations for 2030 could also rise.

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