10 Hot Growth Stocks to Invest in According to Analysts

7. GE Vernova Inc. (NYSE:GEV)

% Gain Over 6-Month Period: ~53.6%

Average Upside Potential: ~38.4%

Number of Hedge Fund Holders: 111

GE Vernova Inc. (NYSE:GEV) is an energy company, which is engaged in the provision of various products and services that generate, transfer, orchestrate, convert, and store electricity. The company remains well-positioned to capitalize on the higher global demand for electricity, mainly because of the data centers and electrification trends. GE Vernova Inc. (NYSE:GEV)’s robust presence in gas power, grid solutions, and renewable energy enables it to cater to multiple aspects of this growing demand. With electricity consumption continuing to rise, the company is expected to see strong growth opportunities throughout its business segments, exceeding current market projections.

GE Vernova Inc. (NYSE:GEV) remains well-placed to reap the benefits from several major industry trends, such as the global energy transition, increased electrification, and the elevated demand for clean energy solutions. Its diverse portfolio enables the company to address several aspects of these trends, ranging from conventional power generation to renewable energy and grid modernization. Overall, GE Vernova Inc. (NYSE:GEV)’s robust market position is aided by its technological expertise, global reach, and extensive installed base.

Fidelity Investments, an investment management company, recently released its Q3 2024 investor letter. Here is what the fund said:

“Among individual holdings, the top relative contributor was an overweight stake in GE Vernova Inc. (NYSE:GEV). The company’s shares gained about 49% the past three months, as the power-generation business that split from General Electric on April 2 continued to fare well as a stand-alone entity. On July 24, the company reported quarterly earnings that were better than expected, boosted by its natural gas power-turbine business, and released an optimistic financial forecast for the rest of 2024.”