Don’t jump the gun on buying more GE Vernova just yet. Despite a new buy-the-dip call from Goldman Sachs, Jim Cramer said Monday that the Club stock could still be weighed down by President Donald Trump ‘s fight against wind energy. Instead, he advised members to wait for more clarity on how the White House’s policies may impact GE Vernova’s overall sales. “The wind business is not going to grow as much,” Jim said during Monday’s Morning Meeting , citing Trump’s criticism of the wind power industry and promotion of fossil fuels. He added, “The president is not going to be giving anyone a break with wind plants.” In fact, Trump has called wind power the “worst form of energy,” even arguing that windmills “should not be allowed.” The White House has also issued executive orders to temporarily freeze new permits for wind projects, cancelled federal funding for the sector, and made it much harder to get tax credits. These are all risks to GE Vernova’s financials and its booming stock because the energy equipment maker has significant exposure to wind power. Nearly 28% of GE Vernova’s total revenue of $34.94 billion last year was wind, according to the company’s 2024 annual report . While up 3% on Monday and more than 80% in 2025, shares have dropped more than 9.5% since their record-high close above $644 on Aug. 6. GEV YTD mountain GE Vernova (GEV) year-to-date performance The wind business, one of GE Vernova’s three reporting segments, is slightly bigger than electrification, which represented around 22% of revenue in 2024. Both, however, pale in comparison to the power segment, which accounted for more than 50% of revenue last year. The power unit houses production of the company’s crown jewel gas turbines, which are highly sought after in a world of increasing energy demand due to artificial intelligence data centers, local manufacturing and industrialization, and electric vehicles. That’s why it was not surprising that shares of GE Vernova sold off last week after rival Mitsubishi Heavy Industries CEO Eisaku Ito told Bloomberg that the company plans to double its gas turbine production in two years to meet outsized demand. The upcoming influx of supply raised questions about pricing power in the industry. “While this has created investor angst and appears to be the reason GEV’s stock was sold off last week, we do not view this as a material risk to the industry,” Goldman Sachs said in a note to clients Monday. “Additionally,” they wrote, “we don’t believe GEV will plan to increase capacity in response unless demand for gas turbines is markedly higher and results in backlog representing closer to 5x revenues.” Last year, the backlog was just over three times revenue. The Goldman analysts, who advocated buying the pullback, also raised their GE Vernova price target to $715 per share from $686. Bottom line While reiterating our hold-equivalent 2 rating and $700 price target on GE Vernova, we would rather be patient and see if Trump’s disdain…
Read More: Cramer on GE Vernova after a buy-the-dip call from Goldman analysts