Morgan Stanley Raises GE Vernova (NYSE:GEV) Price Target to $301.00

GE Vernova (NYSE:GEV) had its price target hoisted by Morgan Stanley from $256.00 to $301.00 in a report released on Thursday, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities analysts have also commented on GEV. Guggenheim started coverage on GE Vernova in a research note on Tuesday, September 24th. They issued a “buy” rating and a $300.00 price target on the stock. William Blair initiated coverage on shares of GE Vernova in a research note on Thursday, August 29th. They set an “outperform” rating for the company. Jefferies Financial Group lifted their price target on shares of GE Vernova from $293.00 to $336.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Hsbc Global Res lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. Finally, The Goldman Sachs Group lifted their price objective on GE Vernova from $220.00 to $308.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $261.40.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $293.54 on Thursday. The stock’s 50 day simple moving average is $235.14 and its 200-day simple moving average is $190.27. GE Vernova has a 1-year low of $115.00 and a 1-year high of $298.81.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate 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 expect that GE Vernova will post 2.65 EPS for the current year.

Institutional Trading of GE Vernova

Hedge funds and other institutional investors have recently made changes to their positions in the company. Deseret Mutual Benefit Administrators purchased a new position in GE Vernova during the 2nd quarter worth approximately $25,000. Trifecta Capital Advisors LLC acquired a new position in shares of GE Vernova in the 2nd quarter valued at $25,000. Meeder Asset Management Inc. purchased a new stake in GE Vernova in the 2nd quarter valued at $25,000. Global Trust Asset Management LLC acquired a new stake in GE Vernova during the 2nd quarter worth $26,000. Finally, Timber Creek Capital Management LLC purchased a new position in GE Vernova during the 2nd quarter worth $27,000.

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.