GE Vernova Stock Explodes 5x Post Spin-Off: What’s Fueling The Surge?

GE Vernova, a recent spin-off from General Electric, has seen its stock skyrocket nearly 5x since its separation in April 2024. With the company now trading around $628 and an analyst target pushing it to $740, investor enthusiasm is boiling over. The latest catalyst? A major upgrade from Melius Research, coupled with booming electricity demand driven by AI data centers, an expanding backlog across key power and electrification segments, and a sharp uplift in margin and free cash flow guidance. GE Vernova, which inherited GE’s energy businesses, now commands a $129 billion backlog and has become a front-runner in the global push for decarbonization and grid modernization. But amid the excitement, questions about valuation and execution risk loom large. Here are the four key drivers behind GE Vernova’s stock explosion and what could shape its trajectory going forward.