Shares of GE Vernova Inc. (NYSE:GEV) are trading flat in early action on Friday morning as investors continue to weigh robust backlog growth showcased at a major industry conference.
- GE Vernova shares are showing limited movement. Where is GEV stock headed?
CEO Highlights $200B Backlog Target at Morgan Stanley Laguna Conference
Providing underlying fundamental support for the stock, GE Vernova CEO Scott Strazik delivered a bullish presentation at Morgan Stanley’s 14th Annual Laguna Conference on Wednesday.
Strazik outlined a “stronger for longer” demand environment driven by hyperscale AI data centers and global grid modernization, noting that the company’s total order backlog reached $176 billion in the second quarter.
Management expects this backlog to surpass $200 billion by early 2027, anchored by stronger pricing, multi-gigawatt electrification orders, and a planned 50% increase in gas power capacity this year to meet dispatchable baseload demand.
Furthermore, Strazik projected that the company expects to secure $100 billion in cumulative future services revenue by the end of 2027.
GEV Stock Pauses Friday Morning
GEV Price Action: GE Vernova shares were up 0.25% at $927.24 during premarket trading on Friday, according to Benzinga Pro data.
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