Jim Cramer is Recommending These 10 Stocks in June

3. GE Vernova Inc (NYSE:GEV)

Number of Hedge Fund Investors: 107

Jim Cramer has recommended GE Vernova Inc (NYSE:GEV) multiple times over the past few days. Cramer is bullish on the stock amid its exposure to the nuclear power business and thinks the stock is a better nuclear stock than any other company out there.

“I keep saying to people… GE Vernova.. because they are nuclear, because they are also natural gas and they are also wind. And you want all those.”

Citi recently started covering GE Vernova Inc (NYSE:GEV) with a Neutral rating and a $183 price target. Citi sees GE Vernova Inc (NYSE:GEV) positioned well to benefit from favorable demand trends.

Wall Street analysts believe GE Vernova Inc (NYSE:GEV) is set to grow on the back of secular growth catalysts. Power demand in the US and all over the world is set to grow following a rise in population, electrification and the surge in AI data centers. The rapid rise in power demand has pushed the company’s order backlog to a whopping $116 billion, which includes backlogs from power, wind and electrification.

GE Vernova Inc (NYSE:GEV) expects about $35 billion in revenue in 2024, and $1 billion in FCF. For 2025, the company is expecting mid-single-digit revenue growth in 2025.

GE Vernova Inc (NYSE:GEV) valuation has been concerning for some. The stock is trading at a forward P/E ratio of 52.08. GE Vernova bulls believe with the company expecting margin expansion and long-term secular growth catalysts, the stock is a solid option for those who can wait.