5 Best Booming Stocks to Buy According to Hedge Funds

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1. GE Vernova Inc. (NYSE:GEV)

GE Vernova Inc. (NYSE:GEV) is one of the best booming stocks to buy according to hedge funds. Oppenheimer lifted the price target on GE Vernova Inc. (NYSE:GEV) to $1,303 from $1,139 on April 23 and maintained an Outperform rating on the shares. The firm stated that the company is continuing to benefit from better-than-expected demand, along with factors such as significant customer and geographic diversification. It further stated that the fiscal Q1 order activity at $18.3 billion was ahead of its expectation for $13.5 billion, suggesting the depth of demand and the value of its integrated solutions. This holds particularly true for its power management solutions, where the firm believes GE Vernova Inc. (NYSE:GEV) delivers differentiated system-level efficiency. Oppenheimer thus stated that it is encouraged by the management’s methodical price increases while continuing to drive operational efficiency.

The same day, RBC Capital also lifted the price target on GE Vernova Inc. (NYSE:GEV) to $1,195 from $996 while reaffirming an Outperform rating on the shares.

GE Vernova Inc. (NYSE:GEV) is involved in the electric power industry and operates through the following segments: Power, Wind, and Electrification.

While we acknowledge the potential of GEV to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than GEV and that has 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 15 Stocks That Will Make You Rich in 10 Years AND 12 Best Stocks That Will Always Grow.

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