GE Vernova (NYSE:GEV) Price Target Raised to $288.00

GE Vernova (NYSE:GEV) had its target price lifted by BMO Capital Markets from $245.00 to $288.00 in a report issued on Monday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on GEV. HSBC reiterated a “hold” rating and issued a $255.00 target price (up from $240.00) on shares of GE Vernova in a report on Friday, October 4th. Guggenheim started coverage on shares of GE Vernova in a research report on Tuesday, September 24th. They set a “buy” rating and a $300.00 target price on the stock. Bank of America raised shares of GE Vernova from a “neutral” rating to a “buy” rating and increased their target price for the stock from $200.00 to $300.00 in a research note on Tuesday, September 17th. William Blair initiated coverage on shares of GE Vernova in a report on Thursday, August 29th. They set an “outperform” rating on the stock. Finally, Jefferies Financial Group raised their target price on GE Vernova from $261.00 to $293.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and a consensus target price of $243.78.

GE Vernova Stock Performance

GE Vernova stock opened at $274.77 on Monday. GE Vernova has a 52-week low of $115.00 and a 52-week high of $276.19. The firm has a 50 day moving average price of $221.17 and a two-hundred day moving average price of $183.61.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) 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. Equities analysts expect that GE Vernova will post 3.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC lifted its position in shares of GE Vernova by 0.9% during the 3rd quarter. Global Retirement Partners LLC now owns 4,507 shares of the company’s stock worth $1,149,000 after buying an additional 40 shares in the last quarter. Miracle Mile Advisors LLC lifted its holdings in GE Vernova by 1.8% during the third quarter. Miracle Mile Advisors LLC now owns 2,768 shares of the company’s stock worth $706,000 after acquiring an additional 48 shares during the period. Merrion Investment Management Co LLC boosted its position in GE Vernova by 0.8% in the third quarter. Merrion Investment Management Co LLC now owns 6,250 shares of the company’s stock worth $1,594,000 after purchasing an additional 50 shares during the last quarter. Parisi Gray Wealth Management grew its stake in GE Vernova by 3.5% in the 3rd quarter. Parisi Gray Wealth Management now owns 1,492 shares of the company’s stock valued at $380,000 after purchasing an additional 51 shares during the period. Finally, Petredis Investment Advisors LLC increased its position in shares of GE Vernova by 0.4% during the 3rd quarter. Petredis Investment Advisors LLC now owns 13,412 shares of the company’s stock valued at $3,420,000 after purchasing an additional 53 shares during the last quarter.

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.