GE Vernova (NYSE:GEV) Given New $446.00 Price Target at The Goldman Sachs Group

GE Vernova (NYSE:GEV) had its price objective increased by investment analysts at The Goldman Sachs Group from $400.00 to $446.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 12.51% from the stock’s previous close.

GEV has been the subject of a number of other research reports. Evercore ISI lifted their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Barclays boosted their target price on GE Vernova from $320.00 to $420.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Morgan Stanley raised their price target on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Guggenheim dropped their price objective on shares of GE Vernova from $400.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. lifted their target price on shares of GE Vernova from $367.00 to $374.00 and gave the stock an “overweight” rating in a report on Tuesday. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus target price of $321.35.

GE Vernova Price Performance

Shares of NYSE:GEV traded up $9.37 during midday trading on Thursday, reaching $396.40. The company had a trading volume of 1,061,750 shares, compared to its average volume of 2,640,733. The business’s 50 day moving average price is $341.28 and its 200 day moving average price is $260.29. GE Vernova has a 1-year low of $115.00 and a 1-year high of $397.18.

GE Vernova declared that its board has approved a share buyback plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On GE Vernova

Institutional investors and hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new position in shares of GE Vernova in the 2nd quarter valued at approximately $375,000. American Century Companies Inc. bought a new position in GE Vernova in the second quarter valued at approximately $4,940,000. Envestnet Asset Management Inc. acquired a new position in GE Vernova during the second quarter valued at approximately $45,674,000. Massachusetts Financial Services Co. MA acquired a new position in GE Vernova during the second quarter valued at approximately $119,390,000. Finally, Dimensional Fund Advisors LP bought a new stake in GE Vernova during the second quarter worth $176,775,000.

About GE Vernova

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.