GE Vernova Stock (GEV) Today: Fresh Analyst Targets, AI Data Center Fuel Cells, and the 2026

December 17, 2025 — GE Vernova Inc. (NYSE: GEV) is back at the center of the “power for AI” trade, but Wednesday’s tape shows just how quickly sentiment can swing after a historic run. After surging to record highs last week on a sweeping Investor Day outlook upgrade, GE Vernova stock pulled back sharply on Dec. 17, even as new analyst notes continued to push price targets higher and fresh commentary put its valuation under a microscope.

As of 18:51 UTC on Dec. 17, GEV was trading around $625, down roughly 9% on the day after an intraday high near $694. ^[1]

The day’s selloff is unfolding against a broader pullback in AI-infrastructure-linked names, with market commentary pointing to weakness across the “AI buildout” complex. ^[2]

Below is a roundup of the most important GE Vernova stock news, forecasts, and analyses circulating on Dec. 17, 2025, plus the key late-week updates still driving the stock.

What’s happening with GEV stock on Dec. 17, 2025

GEV’s decline on Wednesday looks less like a fundamental reset and more like a volatility “aftershock” following last week’s euphoric re-rating. Trading data shows a steep down move from the prior session into a low around $624–$625 and a session change of about -8.9%. ^[3]

The pullback matters because it highlights a core tension in the GE Vernova story right now:

The bull case is being reinforced by a wave of higher analyst targets and a stronger long-term company outlook tied to electrification, grid buildout, and AI-driven load growth.
The bear case is increasingly about valuation and expectations, with some analysts and independent models arguing the stock has already priced in a lot of the upside.

That push-pull is exactly what investors are reacting to as the stock transitions from “breakout” to “debate.”

Today’s biggest headline: GE Vernova’s fuel cell push for AI data centers

One of the most talked-about developments heading into today is GE Vernova’s move to position itself for AI data center power not only through gas turbines and grid equipment, but also through fuel cells.

Barron’s reported that GE Vernova plans to commercialize fuel cells within one to two years and industrialize them in three to five years, citing remarks around a facility in Malta, New York, and pointing to GE Vernova’s thermal spray approach as a differentiator versus more common ceramic-based designs. ^[4]

Why this matters for GEV stock:

If fuel cells become a meaningful complement to turbines + grid hardware for data centers, it expands GE Vernova’s “AI power stack.”
It also frames GE Vernova as a potential future competitor to established fuel cell players serving data centers, raising both opportunity (new TAM) and execution questions (timeline, cost curve, commercialization risk). ^[5]

Importantly, financial projections for a fuel cell business were not highlighted as already baked into current guidance, which means the market may treat it as an option value rather than a near-term earnings driver. ^[6]

Analyst forecasts: Price targets keep rising into Dec. 17

Even with today’s stock drop, Wall Street’s target-setting activity is still trending upward following GE Vernova’s Investor Day.

New / recent price target moves to know

Baird raised its GE Vernova price target to $816 from $706 and kept an Outperform rating (published Dec. 17). ^[7]
Goldman Sachs raised its target to $840 from $735 and reiterated Buy (recirculating in U.S. market notes on Dec. 17). ^[8]
Morgan Stanley raised its target to $822 from $710 and kept Overweight (published Dec. 16). ^[9]
Wells Fargo raised its target to $831 from $717 and maintained Overweight (published Dec. 16). ^[10]
RBC Capital Markets upgraded the stock to Outperform and raised its target to $761 from $630 (published Dec. 10). ^[11]
J.P. Morgan issued a Street-high $1,000 price target in the wake of Investor Day, highlighting strength in grid electrification and order activity. ^[12]

What the “consensus” says (and why it may look conservative)

Consensus targets vary materially by provider and analyst set. One widely quoted snapshot shows an average target around $680.52 with a high of $860 and a low of $380, reflecting an unusually wide dispersion. ^[13]

That spread tells you something important about GEV stock in late 2025: the market is not just arguing about next quarter — it’s arguing about how durable and how profitable the power + electrification upcycle is, and how quickly wind stops being a drag.

Company forecast: GE Vernova’s 2025, 2026 and 2028 outlook sets a high bar

The backbone of the current GE Vernova narrative is management’s December 9 Investor Update, where the company reaffirmed 2025 revenue/margin guidance, raised 2025 free cash flow guidance, introduced 2026 guidance, and lifted its outlook through 2028. ^[14]

GE Vernova guidance highlights

From GE Vernova’s Investor Update materials:

2025 guidance:
- Revenue $36–$37B (trending toward the higher end)
- Adjusted EBITDA margin 8%–9%
- Free cash flow $3.5–$4.0B (raised from $3.0–$3.5B) ^[15]
2026 guidance:
- Revenue $41–$42B
- Adjusted EBITDA margin 11%–13%
- Free cash flow $4.5–$5.0B ^[16]
Outlook by 2028:
- Revenue $52B (raised from $45B at the prior Investor Update)
- Adjusted EBITDA margin 20% (raised from 14%)
- Cumulative free cash flow $22B+ for 2025–2028 (raised from $14B+) ^[17]

Capital returns: Dividend doubled, buyback expanded

GE Vernova also announced:

Quarterly dividend increased to $0.50 (from $0.25), payable Feb. 2, 2026 to holders of record Jan. 5, 2026
Share repurchase authorization increased to $10B (from $6B), with $3.3B spent as of Dec. 3, 2025 ^[18]

For stock investors, that is a powerful combination: a higher long-term earnings/cash trajectory plus a more explicit shareholder return framework — but it also elevates expectations, which can amplify downside on any disappointment.

The “AI power” thesis: turbines, transformers, HVDC, and grid hardware

GE Vernova is increasingly being treated as a core “picks-and-shovels” name for AI—because the AI buildout ultimately becomes a power generation + transmission + grid stability buildout.

Gas turbines: sold out visibility is a major pillar

Reuters reported that GE Vernova expects around 80 gigawatts of signed combined-cycle gas turbine contracts by year-end 2025 as data center-driven electricity demand ramps, and that the company has effectively sold out turbine supply through 2028 with limited availability beyond that. ^[19]

Utility-sector reporting after the Investor Day also emphasized:

18 GW of turbine orders booked so far in Q4
A target for an 80-GW backlog by end of 2025, stretching into 2029
Expectations for manufacturing capacity to rise over time ^[20]

Electrification: the grid “supercycle” narrative

GE Vernova’s Electrification business is where the stock’s AI link often becomes most direct: data centers need transformers, switchgear, HVDC links, and grid-stabilizing equipment.

GE Vernova’s own Investor Update recap projected total backlog growth from about $135B to ~$200B by year-end 2028, including a plan to double Electrification backlog (to ~$60B). ^[21]

Contract news still “in play”: TenneT’s BalWin5 HVDC award

While not a Dec. 17 headline, this is a current, market-relevant development because it reinforces the electrification backlog narrative.

GE Vernova and Seatrium announced they secured a major contract from TenneT tied to BalWin5, a 2.2-gigawatt HVDC offshore grid connection designed to bring North Sea wind power into Germany’s grid. GE Vernova said its Electrification Systems business is expected to deliver the HVDC technology and converter stations, with work scheduled to commence Jan. 1, 2026. ^[22]