HSBC Raises GE Vernova (GEV) PT to $580, Cites Potential for a US Onshore Demand Rebound

GE Vernova Inc. (NYSE:GEV) is one of the best IPO stocks to buy and hold for 3 years. On September 5, HSBC analyst Sean McLoughlin raised the firm’s price target on GE Vernova to $580 from $570, while maintaining a Hold rating on the shares. The firm believes that GE Vernova stands to benefit most from any US onshore demand rebound. The Trump admin’s intervention in offshore wind is high. But in onshore, a newly opened window for developers to lock in tax credits to 2030 can drive a rebound in demand from current low levels.

In Q2 2025, GE Vernova reported orders of $12.4 billion and a revenue of $9.1 billion, which was up 11% year-over-year. This was fueled by the demand in the Power and Electrification segments, with both equipment and services contributing to the increase. Net income for the quarter was $0.5 billion.

The company’s backlog rose by $5.2 billion sequentially from equipment and services. Notably, the Gas Power equipment backlog and slot reservation agreements increased from 50 to 55 GW.

GE Vernova Inc. (NYSE:GEV) is an energy company that provides various products and services that generate, transfer, orchestrate, convert, and store electricity. The company has 3 segments: Power, Wind, and Electrification.

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Disclosure: None. This article is originally published at Insider Monkey.