Barclays Boosts GE Vernova (NYSE:GEV) Price Target to $487.00

GE Vernova (NYSE:GEV) had its target price boosted by equities research analysts at Barclays from $420.00 to $487.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 16.15% from the company’s current price.

A number of other brokerages have also issued reports on GEV. Morgan Stanley lifted their target price on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Oppenheimer initiated coverage on GE Vernova in a research note on Thursday, September 26th. They issued a “market perform” rating on the stock. Bank of America raised their price target on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Guggenheim lowered their price target on GE Vernova from $400.00 to $380.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Finally, HSBC reaffirmed a “hold” rating and set a $255.00 price objective (up previously from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Eight analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $339.73.

GE Vernova Trading Down 4.2 %

NYSE:GEV opened at $419.27 on Thursday. The business’s fifty day moving average price is $351.59 and its 200 day moving average price is $270.59. The firm has a market capitalization of $115.57 billion and a price-to-earnings ratio of 75.41. GE Vernova has a 1-year low of $115.00 and a 1-year high of $447.50.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The business had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities analysts forecast that GE Vernova will post 6.61 earnings per share for the current year.

GE Vernova declared that its board has initiated a stock repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On GE Vernova

Hedge funds have recently made changes to their positions in the stock. Cedar Mountain Advisors LLC raised its holdings in GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after acquiring an additional 39 shares in the last quarter. Castleview Partners LLC acquired a new stake in shares of GE Vernova during the 3rd quarter worth approximately $28,000. Pathway Financial Advisers LLC bought a new stake in shares of GE Vernova during the second quarter valued at approximately $29,000. Covestor Ltd raised its stake in shares of GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares in the last quarter. Finally, Darwin Wealth Management LLC bought a new position in GE Vernova in the third quarter worth $31,000.

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.