Jim Cramer’s Ultimate Stock Picks: 10 Hot Stocks to Consider

4. Ge Vernova Inc. (NYSE:GEV)

Number of Hedge Fund Investors: 92

Jim Cramer highlights that Ge Vernova Inc. (NYSE:GEV), the spin-off of General Electric’s energy division that began trading separately in April, is seeing an increase in price targets. JPMorgan has raised its target from $216 to $240 per share, while Morgan Stanley has adjusted its target from $220 to $256. Cramer notes that Ge Vernova Inc. (NYSE:GEV) closed at $215.27 on Thursday, marking its fourth consecutive record high.

“More price-target bumps for GE Vernova , the spin-off of General Electric’s energy business that started trading on its own in April. The latest are from JPMorgan, which went to $240 a share from $216, and Morgan Stanley, which went to $256 from $220. Thursday’s close of $215.27 was the stock’s fourth record high in a row. Is GE Vernova best in show?”

Ge Vernova Inc. (NYSE:GEV) is an attractive investment due to its key role in the energy transition market, strong financial performance, and rising demand for clean energy solutions. Ge Vernova Inc. (NYSE:GEV) reported robust Q2 2024 results, with net income of $1.28 billion and revenue of $8.2 billion, driven by growth in its Electrification and Power divisions. Ge Vernova Inc. (NYSE:GEV) has increased its 2024 revenue forecast to between $34 billion and $35 billion and expects an adjusted EBITDA margin of 5-7%, reflecting improved operations and cost management.

As a leading player in the global shift toward clean energy, particularly in wind power and electrification, Ge Vernova Inc. (NYSE:GEV) is well-positioned to benefit from the growing demand for cleaner energy. Favorable market conditions, such as strong demand for power equipment and a focus on profitable areas within its wind business, further boost its prospects. These factors, along with the overall trend toward sustainable energy, make Ge Vernova Inc. (NYSE:GEV)  a compelling long-term investment.

Carillon Eagle Mid Cap Growth Fund stated the following regarding GE Vernova Inc. (NYSE:GEV) in its Q2 2024 investor letter:

“GE Vernova Inc. (NYSE:GEV) is a global electric power company that was recently spun out of a much larger industrial conglomerate. The company’s shares performed well in their first quarter as a standalone company, primarily as a result of the increasing outlook for power demand growth, both domestically and abroad. We believe GE Vernova is well positioned to capitalize on this growing trend across its various products and services, but most notably within its large-scale gas turbine equipment and related services, as well as in its high-voltage electrical transmission products.”