GE Vernova (GEV) is poised for strong Q2 orders due to multiple gas turbine orders intra-quarter, Bofa said in a Thursday note.
The orders are estimated to be about $11.8 billion, which is 6% above the $11.1 billion consensus, the note said.
The company's stocks are presently valued at 22 times the consensus. According to BofA, the 2027 estimate for EBITDA of $7 billion is still 10% above the consensus of $6.4 billion.
As the US wind tax credits blow away, it could lead to an increase in US onshore wind orders in H2 2025 and H1 2026 as developers hurry to commence construction ahead of the cutoff, the note said.
BofA raised its price target to $620 from $550, with a buy rating.
Shares of GE Vernova added more than 2% in recent trading Thursday.
Price: 576.52, Change: +15.35, Percent Change: +2.74