Royal Bank of Canada Increases GE Vernova (NYSE:GEV) Price Target to $285.00

GE Vernova (NYSE:GEV) had its price objective upped by equities research analysts at Royal Bank of Canada from $262.00 to $285.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential downside of 2.52% from the company’s current price.

GEV has been the subject of several other research reports. Truist Financial assumed coverage on GE Vernova in a research note on Thursday, September 26th. They issued a “buy” rating and a $300.00 price target for the company. William Blair began coverage on GE Vernova in a research report on Thursday, August 29th. They issued an “outperform” rating for the company. HSBC reissued a “hold” rating and set a $255.00 target price (up from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. JPMorgan Chase & Co. raised their price objective on shares of GE Vernova from $285.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft started coverage on GE Vernova in a report on Monday. They set a “buy” rating and a $354.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $258.07.

GE Vernova Stock Up 4.5 %

Shares of GEV traded up $12.49 during midday trading on Thursday, reaching $292.37. The stock had a trading volume of 1,861,969 shares, compared to its average volume of 3,591,375. The firm’s 50 day moving average price is $230.78 and its 200-day moving average price is $187.97. GE Vernova has a 52 week low of $115.00 and a 52 week high of $296.69.

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

Institutional Investors Weigh In On GE Vernova

A number of institutional investors and hedge funds have recently modified their holdings of GEV. Deseret Mutual Benefit Administrators purchased a new position in GE Vernova during the second quarter worth about $25,000. Trifecta Capital Advisors LLC bought a new position in shares of GE Vernova in the second quarter worth approximately $25,000. Meeder Asset Management Inc. bought a new stake in GE Vernova during the second quarter valued at approximately $25,000. Global Trust Asset Management LLC purchased a new position in GE Vernova in the 2nd quarter worth approximately $26,000. Finally, Timber Creek Capital Management LLC bought a new position in shares of GE Vernova in the 2nd quarter worth $27,000.

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.