GE Vernova Reportedly Eyeing Up To $1B Through Sale Of Proficy Software Unit

GE Vernova (GEV) stock is poised to attract retail interest on Monday after a report said the company is exploring the sale of its Proficy software.

Bloomberg News reported, citing people familiar with the matter, that the company is working with financial advisers and reaching out to publicly traded companies with industrial software assets, as well as to private equity firms, for a potential sale.

The power equipment maker's asset sale could fetch up to $900 million or even $1 billion, the report said. However, the company might still not move forward with a deal for Proficy, which is used in manufacturing, utilities automation, and metro transit, among other things.

In April, GE Vernova reported that its first-quarter earnings from electrification software, which includes Proficy, rose 9% over the year-ago quarter to $224 million.

The rise in profit in the software segment followed a surge in profit across most parts of its business, with electricity demand rising at the fastest pace since the Second World War. The strong outlook for the company has led to a 56% rise in GE Vernova stock this year.

Morgan Stanley raised the firm's price target with stronger conviction in the company's ability to execute on incremental high-margin opportunities within Power and Electrification.

Retail sentiment on Stocktwits was 'bullish' (61/100) territory, while retail chatter was 'high.'

However, the company's project backlog could be threatened as the Senate version of the 'Big Beautiful Bill' introduced new taxes on solar and wind projects.

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