GE Vernova: CFO Parks at BofA Industrials, Transportation, & Airlines Conference

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GE Vernova: CFO Parks at BofA Industrials, Transportation, & Airlines Conference

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GE Vernova

CFO Parks at BofA Industrials,

Transportation, & Airlines Conference

Reiterate Rating: BUY | PO: 1,310.00 USD | Price: 1,071.98 USD

Takeaways from investor meetings with CFO Parks 13 May 2026

We hosted investor meetings with CFO Ken Parks and Investor Relations Michael Equity

Lapides at the BofA Industrials, Transportation, and Airlines Key Leaders Conference in

Andrew Obin

New York on May 12th. We reiterate our Buy rating on GEV shares given US electricity Research Analyst

load growth and prospective margin expansion. BofAS +1 646 855 1817

andrew.obin@bofa.com

Data center demand in Power still in “early days” David Ridley-Lane, CFA

CFO Parks noted that only ~20% of the combined 100 gigawatts in slot reservation Research Analyst BofAS

agreements and backlog for gas power equipment was tied to data centers. Early in the +1 646 855 2907

artificial intelligence buildout, data centers developers went to non-traditional locations david.ridleylane@bofa.com

with grid power (e.g., Meta’s $0.8bn data center in Kuna, Idaho) or contracted with DevinResearchLeonardAnalyst

existing power plants (e.g., Amazon Web Services’ Talen Energy deal). This tightened BofAS

power markets across the US, while delaying the development of new-build power +1devin.leonard@bofa.com646 855 3698

generation orders.

Diverse demand drivers for Electrification growth

Stock DataThe company’s electrification backlog has increased from $9bn at year-end 2022 to

$42bn today. CFO Parks noted a wide range of drivers including aging grids, new sources Price 1,071.98 USD

of power generation, managing bidirectional flow (e.g., rooftop solar), accelerated load Price Objective 1,310.00 USD