GE Vernova (GEV) Stock Soars on AI Energy Boom—UBS Targets $614

GE Vernova Inc. (NYSE:GEV) is one of the 10 AI Stocks Investors Are Watching This Week. On July 8, UBS initiated coverage of the stock with a “Buy” rating and $614 price target.

According to the firm, the wind turbine maker is set to grow backed by booming electricity demand from data centers and a limited supply environment. These will help drive pricing power and long-term growth.

The firm analyst believes that GE Vernova’s compound earnings growth is likely to be 70% over five years, which is the bank’s highest estimate across covered companies. This estimate is driven by AI-related energy needs and long equipment lead times that back pricing.

GE Vernova (GEV) Stock Soars on AI Energy Boom—UBS Targets $614

According to the analyst, GE Vernova is 25% into its earnings growth for this cycle, and its profit could grow three times bigger by 2030.

“While valuation is high, we believe it is sustainable.”

GE Vernova Inc. (NYSE:GEV) is a global energy company and a soaring AI stock driven by the demand for energy to power artificial intelligence technology.

While we acknowledge the risk and potential of GEV as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than GEV and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.