GE Vernova rises on BofA order growth forecast

GE Vernova shares climbed 4.4% in morning trading on Wednesday after Bank of America Securities forecast strong third-quarter order growth ahead of the company's upcoming earnings report.

Analyst Andrew Obin maintained a Buy rating and $1,310 price target on the stock in a note published Tuesday. The firm projected order growth of approximately 44% year-over-year for the third quarter. GE Vernova is scheduled to report earnings on October 28.

The stock's gain reversed a 2.1% decline from Tuesday. Shares remain below their 52-week high of $1,195.94.

GE Vernova announced it was selected to supply a 9E gas turbine and generator for a 372-megawatt combined-cycle power plant in Côte d'Ivoire. The facility is expected to account for up to 12% of the country's generation capacity when it begins operations in 2029.

Genoa Capital disclosed a new institutional position in the company on Wednesday.

Analysts covering the stock have a consensus "Moderate Buy" rating, with an average price target above current trading levels.

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