GE Vernova (NYSE:GEV) PT Raised to $336.00

GE Vernova (NYSE:GEV) had its target price hoisted by research analysts at Jefferies Financial Group from $293.00 to $336.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s price objective suggests a potential upside of 23.13% from the company’s current price.

GEV has been the subject of several other reports. Mizuho boosted their price objective on shares of GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Morgan Stanley raised their price target on shares of GE Vernova from $220.00 to $256.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Guggenheim initiated coverage on GE Vernova in a report on Tuesday, September 24th. They issued a “buy” rating and a $300.00 price target for the company. HSBC reiterated a “hold” rating and issued a $255.00 target price (up from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Finally, Evercore ISI upped their price objective on shares of GE Vernova from $285.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $246.73.

GE Vernova Stock Up 0.3 %

Shares of GE Vernova stock traded up $0.89 during trading on Friday, reaching $272.89. The company’s stock had a trading volume of 1,031,978 shares, compared to its average volume of 3,604,237. GE Vernova has a 12-month low of $115.00 and a 12-month high of $281.37. The business has a 50 day moving average price of $223.06 and a 200-day moving average price of $184.23.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.42 billion. On average, sell-side analysts predict that GE Vernova will post 3.21 EPS for the current fiscal year.

Institutional Trading of GE Vernova

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Newport Trust Company LLC acquired a new stake in GE Vernova during the second quarter worth approximately $650,140,000. Bank of New York Mellon Corp bought a new position in shares of GE Vernova during the 2nd quarter worth approximately $537,674,000. Price T Rowe Associates Inc. MD bought a new stake in GE Vernova in the 1st quarter valued at about $367,474,000. Marshall Wace LLP bought a new position in shares of GE Vernova in the second quarter valued at $399,770,000. Finally, Legal & General Group Plc purchased a new position in shares of GE Vernova during the second quarter valued at approximately $293,699,000.

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.