Jefferies analyst Julien Dumoulin-Smith lowered GE Vernova’s price target to $1,210 from $1,350 on June 11, but maintained a Buy rating on the power equipment maker, signaling continued confidence in the stock despite valuation concerns.
The 10.4% reduction in target price reflects a recalibration following GE Vernova’s 30% decline from its April peak of $1,181.95, when the stock hit all-time highs after the company reported strong first-quarter earnings and raised full-year guidance.
Dumoulin-Smith said concerns about GE Vernova’s blade, tower, and module business are overextended relative to tangible data points, according to Investing.com. The analyst expects order backlog to elongate into 2031 with second-quarter 2026 results, and anticipates the firm will achieve its 110 gigawatt order and slot backlog target by the end of the second quarter.
Jefferies views the second-quarter 2026 setup as attractive given the stock’s pullback from its peak. The firm expects the order profile of the second quarter and prospective quoting commentary on the third quarter to dispel concerns about eroded market power for gas turbines into the 2030s.
Channel checks point to strength in the large-frame gas turbine market, Jefferies said. The analyst also identified upward long-term guidance revision for the Electrification segment with Prolec synergies as a meaningful late-2026 catalyst, alongside the next financial plan roll-forward.
Wall Street consensus remains bullish on GE Vernova despite the recent pullback. According to Investing.com, the average 12-month price target from 33 analysts stands at $1,211.89, with estimates ranging from a low of $913 to a high of $1,424. The stock, which was trading around $906 to $940 as of mid-June, still trades below the average analyst target.
GE Vernova’s strong fundamentals, including a $150 billion backlog and raised 2026 revenue guidance of $44.5 billion to $45.5 billion, support the broader bullish view. The company powers 25% of the world’s electricity and benefits from surging demand for power infrastructure driven by artificial intelligence data center construction and grid modernization efforts.
Sources
- Investing.com — Jefferies analyst Julien Dumoulin-Smith’s June 11, 2026 price target adjustment, backlog outlook, and bullish stance on GE Vernova.
- GuruFocus — Jefferies’ maintenance of Buy rating and price target reduction from $1,350 to $1,210 on June 11, 2026.
- TipRanks — Confirmation of Jefferies analyst Dumoulin-Smith lowering price target to $1,210 from $1,350 while keeping Buy rating.
- Benzinga — GE Vernova analyst consensus price target data from 25 analysts.
- Macrotrends — GE Vernova’s 52-week high of $1,181.95 reached in April 2026.
