GE Vernova (GEV) shares jumped Thursday to their all-time high after William Blair analyst Jed Dorsheimer initiated coverage of the power-generation equipment and services company with an "outperform" rating, citing the demand for energy to run澳洲幸运5官方开奖结果体彩网: artificial intelligence (AI) products.

Dorsheimer wrote in a note to clients Thursday that “the reality behind AI” is that 澳洲幸运5官方开奖结果体彩网:natural gas and gas turbine power are “underappreciated.”

He added that renewable energy sources aren’t capable of producing the electricity needed to supply the grid for this burgeoning demand, and that natural gas is the “pragmatic” answer. He said his firm believes 澳洲幸运5官方开奖结果体彩网:GE Vernova “is best positioned to benefit as the energy sector reverts back to pragmatism and quietly walks back from the 100% green idealism.”  

GE Vernova Seen Benefiting from Aging Turbines

Dorsheimer said that the natural gas turbines currently in use are aging, and because of the call for more electricity, power plants are r💜unning harder and past scheduled retirement. He argued that that fact benefits GE Vernova, whose service contracts for the machines acᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚt as recurring revenue. 

Dorsheimer said in the research report that using two ways to⛄ analyze the valuation, GE Vernov🐷a’s share price should be $216.

Shares of GE Vernova, which was 澳洲幸运5官方开奖结果体彩网:created in April when the old General Electric divided into three separate companies, gained 4% on Thursday to close at $191.36, after moving💟 as high as $195.68 during the session.