GE Vernova Is Up 18% in 2026 After Three Guidance Raises: Take Profits, or Buy More?

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GE Vernova stock is up 18% in 2026, but it has slid since early July even though the company raised its 2026 guidance three times. The selling came from outside the company: Meta’s spending results and Democrats’ win in Congress hit AI power stocks, Vertiv included. Only about 20% of GE Vernova’s contracted gas capacity serves data centers, and Eaton’s record orders show grid demand holding up. Analysts expect earnings to more than double by 2028, and the multiple sits well below its average of the past year. The stock looks like a buy, and the next check is the fourth-quarter report, expected in late January. GE Vernova ( GEV ) stock is up 18% in 2026. It hit an intraday high on July 6, though, and has given back most of its first-half gain since, even as the company raised its 2026 guidance three times. Meta Platforms ( META ) spooked AI-infrastructure investors in October, and Democrats’ sweep of Congress then hit GE Vernova and Vertiv ( VRT ) alike. Meanwhile, Eaton ( ETN ) reported record orders on Nov. 3. The company raised its guidance with each report: April 22: First-quarter orders rose 71% organically, the backlog grew $13 billion (including $5 billion from the Prolec GE deal), and the free cash flow guide went to $6.5-7.5 billion, up from $5.0-5.5 billion. July 22: Orders rose 88% organically, and the cash flow guide jumped to $11.5-12.5 billion. But Power’s 14% organic revenue growth missed management’s own 15-17% guide. Oct. 28: Orders rose 96% organically to $29.3 billion, the backlog hit $197 billion, the cash flow guide went to $16-17 billion, and the buyback authorization doubled to $20 billion. So the free cash flow guide has roughly tripled since the start of the year. Investors sold the stock after the third quarter anyway, because of a few soft spots. Electrification orders fell 9% organically against big orders a year earlier, the Wind loss guide widened to $400-500 million, and slot reservations dipped from 63 to 58 gigawatts. (The dip happened because 13 GW of reservations became firm orders.) TIKR tracks 38 analysts on GE Vernova. How many say “Buy”? See the full breakdown of Buy, Hold, and Sell ratings on GE Vernova, along with Wall Street’s revenue and earnings estimates, all in one place. More than 500,000 investors use TIKR to research stocks like this one. See GE Vernova’s Analyst Ratings GE Vernova fell nearly 11% on Oct. 22, the day after Meta’s earnings . Meta’s third-quarter free cash flow came in at negative $2.12 billion. It also raised the bottom of its 2026 capex range, now $135-145 billion, and said it expects to keep “investing aggressively” next year. But when a big customer raises its spending floor, more money goes to power gear. Then Democrats won both chambers in the Nov. 3 midterms. GE Vernova fell 9% on Nov. 4 and another 7.5% on Nov. 5, when the Nasdaq dropped 5.5% on fears of a data-center slowdown. Vertiv fell 13% on Nov. 4, even though its third-quarter revenue rose 61% to $4.31 billion. The new Congress doesn’t sit until January, and it can’t cancel orders already in either company’s backlog. Only about 20% of GE Vernova’s contracted gas gigawatts serve data centers , management said on its second-quarter call. The rest go to utilities and other traditional buyers. Eaton’s quarter shows grid demand holding up as well. Its third-quarter sales rose 28% to a record $8.9 billion, and its rolling organic orders climbed 39% in Electrical Americas and 51% in Electrical Global . Analysts expect GE Vernova’s normalized EPS to more than double from 2026 to 2028: The multiple has gone the other way. At the Nov. 2 close, the stock traded at 37x forward earnings. That’s near its low of the past year and far below the year’s 55x average: After the Nov. 4 and Nov. 5 drops, it’s lower still. Of course, much of this year’s cash is customers’ money. Of the third quarter’s $5.4 billion of free cash flow, $5.3 billion came from working capital, mostly down payments on gear still to ship. And GLJ Research, with a Sell rating and a $540 target, calls GE Vernova a cyclical business. The case for buying still holds. Investors are paying less for GE Vernova’s earnings than at almost any point in the past year, just as those earnings are set to more than double. The view would change if Washington, or a key data-center state like Texas, actually moves against data-center building. The next check is the fourth-quarter report, expected in late January. By then, management expects a backlog above $200 billion and at least 130 gigawatts of gas equipment under contract. TIKR lets you forecast the future price of any stock in less than a minute. Just enter a few assumptions into TIKR’s valuation model and see what GE Vernova could be worth. Start from Wall Street consensus estimates, or adjust the inputs to reflect your own view of the business. It’s free to use. Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any of the stocks mentioned. Thank you for reading, and happy investing!

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