GE Vernova (NYSE:GEV) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

GE Vernova (NYSE:GEV) had its price target lifted by analysts at The Goldman Sachs Group from $446.00 to $500.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 14.32% from the stock’s current price.

GEV has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft began coverage on shares of GE Vernova in a research note on Monday, October 21st. They set a “buy” rating and a $354.00 price objective on the stock. Jefferies Financial Group lifted their price objective on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Barclays upped their target price on GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a research note on Thursday. HSBC reiterated a “hold” rating and issued a $255.00 price target (up previously from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Finally, Morgan Stanley upped their price objective on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $339.73.

GE Vernova Trading Up 2.4 %

Shares of GEV stock opened at $437.37 on Friday. The stock has a market cap of $120.56 billion and a P/E ratio of 78.66. GE Vernova has a 1 year low of $115.00 and a 1 year high of $447.50. The stock has a 50 day simple moving average of $349.37 and a 200 day simple moving average of $269.42.

GE Vernova (NYSE:GEV) last released 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 company had revenue of $10.56 billion for the quarter, compared to the consensus estimate 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. Analysts forecast that GE Vernova will post 6.61 EPS for the current year.

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

Hedge Funds Weigh In On GE Vernova

A number of hedge funds have recently bought and sold shares of GEV. Waverton Investment Management Ltd grew its position in shares of GE Vernova by 10.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock worth $185,459,000 after buying an additional 66,455 shares during the period. Hanlon Investment Management Inc. acquired a new stake in shares of GE Vernova in the 3rd quarter valued at about $1,101,000. Atria Investments Inc increased its position in GE Vernova by 127.0% in the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock valued at $1,297,000 after buying an additional 2,847 shares in the last quarter. Fractal Investments LLC acquired a new position in GE Vernova during the 3rd quarter worth approximately $1,530,000. Finally, Legal & General Group Plc bought a new position in GE Vernova in the second quarter worth approximately $293,699,000.

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.