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

GE Vernova (NYSE:GEV) had its target price increased by Royal Bank of Canada from $262.00 to $285.00 in a research note published on Thursday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

GEV has been the subject of a number of other reports. JPMorgan Chase & Co. upped their price objective on GE Vernova from $285.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday. Hsbc Global Res lowered GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. William Blair began coverage on GE Vernova in a research note on Thursday, August 29th. They issued an “outperform” rating for the company. Mizuho lifted their price objective on shares of GE Vernova from $186.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, The Goldman Sachs Group raised their target price on shares of GE Vernova from $220.00 to $308.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Seven 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 stock currently has an average rating of “Moderate Buy” and an average target price of $261.40.

GE Vernova Stock Down 0.1 %

Shares of NYSE:GEV traded down $0.23 on Thursday, reaching $296.77. 632,746 shares of the company’s stock were exchanged, compared to its average volume of 3,583,822. The business’s 50-day moving average is $230.78 and its two-hundred day moving average is $187.97. GE Vernova has a fifty-two week low of $115.00 and a fifty-two 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, topping the consensus estimate of $0.69 by $0.02. The business had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.42 billion. Equities analysts anticipate that GE Vernova will post 3.21 EPS for the current year.

Hedge Funds Weigh In On GE Vernova

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