Bank of America Raises GE Vernova (NYSE:GEV) Price Target to $320.00

GE Vernova (NYSE:GEV) had its price target increased by Bank of America from $300.00 to $320.00 in a report published on Thursday, Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other analysts have also issued reports on GEV. Morgan Stanley boosted their price objective on GE Vernova from $220.00 to $256.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. William Blair assumed coverage on shares of GE Vernova in a report on Thursday, August 29th. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. boosted their price objective on shares of GE Vernova from $285.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of GE Vernova in a research note on Monday, October 21st. They issued a “buy” rating and a $354.00 target price on the stock. Finally, Redburn Atlantic assumed coverage on shares of GE Vernova in a report on Tuesday, July 2nd. They issued a “neutral” rating and a $178.00 price target on the stock. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus price target of $261.40.

GE Vernova Stock Down 1.2 %

NYSE GEV opened at $293.54 on Thursday. The firm’s 50-day simple moving average is $235.14 and its two-hundred day simple moving average is $190.27. GE Vernova has a 52 week low of $115.00 and a 52 week high of $298.81.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.42 billion. As a group, research analysts forecast that GE Vernova will post 2.65 EPS for the current fiscal year.

Institutional Investors Weigh In On GE Vernova

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