GE Vernova (NYSE:GEV) Price Target Raised to $300.00

GE Vernova (NYSE:GEV) had its price target upped by Barclays from $250.00 to $300.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages also recently commented on GEV. Royal Bank of Canada upped their price objective on shares of GE Vernova from $192.00 to $246.00 and gave the company an outperform rating in a research note on Tuesday, September 17th. Hsbc Global Res raised GE Vernova to a strong-buy rating in a research report on Monday, August 12th. Jefferies Financial Group lifted their price objective on GE Vernova from $261.00 to $293.00 and gave the stock a buy rating in a research report on Friday, September 20th. Citigroup initiated coverage on GE Vernova in a research note on Tuesday, June 11th. They set a neutral rating and a $183.00 target price on the stock. Finally, Guggenheim assumed coverage on GE Vernova in a research note on Tuesday, September 24th. They issued a buy rating and a $300.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, GE Vernova has a consensus rating of Moderate Buy and an average target price of $234.98.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $265.59 on Wednesday. GE Vernova has a one year low of $115.00 and a one year high of $266.42. The stock has a 50 day moving average of $205.35.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. The firm had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.42 billion. As a group, equities analysts expect that GE Vernova will post 2.83 EPS for the current fiscal year.

Institutional Investors Weigh In On GE Vernova

Several hedge funds have recently added to or reduced their stakes in GEV. Newport Trust Company LLC purchased a new position in shares of GE Vernova in the 2nd quarter worth about $650,140,000. Bank of New York Mellon Corp purchased a new position in GE Vernova in the second quarter worth about $537,674,000. Price T Rowe Associates Inc. MD bought a new position in shares of GE Vernova in the first quarter worth approximately $367,474,000. Marshall Wace LLP purchased a new stake in shares of GE Vernova during the second quarter valued at approximately $399,770,000. Finally, Legal & General Group Plc bought a new stake in shares of GE Vernova during the second quarter valued at approximately $293,699,000.

GE Vernova Company Profile

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.