We're raising our price target on GE Vernova as AI fuels another monster quarter

ge vernova shares jumped more than 12% to a new all-time high after a huge quarter driven by ai's energy demand. revenue hit $9.34 billion, beating estimates, while orders surged 71% organically to $18.3 billion. adjusted eps was about $2.08, also above expectations. the company's backlog swelled to $163 billion, with management now targeting $200 billion by 2027. ceo scott strazik said the current quarter is off to an even stronger start, with more power equipment orders booked quarter-to-date than in all of q1. pricing power is rising, with orders priced 10 to 20 points higher per kilowatt than late last year. the rally prompted a price target increase to $1,300 from $1,000. for the full year, ge vernova raised its revenue guidance to $44.5-$45.5 billion and its adjusted ebitda margin forecast to 12%-14%. the wind segment remains a drag, but the company sees a path to over $100 million in future ebitda improvement there.