Royal Bank of Canada Boosts GE Vernova (NYSE:GEV) Price Target to $246.00

GE Vernova (NYSE:GEV) had its price objective hoisted by research analysts at Royal Bank of Canada from $192.00 to $246.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 3.35% from the company’s previous close.

GEV has been the topic of several other research reports. Morgan Stanley boosted their price target on GE Vernova from $220.00 to $256.00 and gave the stock an “overweight” rating in a research report on Friday. Argus assumed coverage on shares of GE Vernova in a report on Thursday, June 13th. They set a “buy” rating and a $190.00 target price on the stock. BMO Capital Markets began coverage on shares of GE Vernova in a research note on Friday. They issued an “outperform” rating and a $245.00 price target for the company. Redburn Atlantic initiated coverage on shares of GE Vernova in a research report on Tuesday, July 2nd. They issued a “neutral” rating and a $178.00 price objective for the company. Finally, The Goldman Sachs Group upped their target price on shares of GE Vernova from $196.00 to $220.00 and gave the company a “buy” rating in a report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and an average target price of $217.64.

GE Vernova Trading Up 3.5 %

GE Vernova stock traded up $8.09 during mid-day trading on Tuesday, reaching $238.02. The company’s stock had a trading volume of 2,292,250 shares, compared to its average volume of 3,796,328. GE Vernova has a 12 month low of $115.00 and a 12 month high of $240.00. The firm’s 50 day simple moving average is $183.00.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. The company had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.42 billion. On average, equities research analysts forecast that GE Vernova will post 3.02 EPS for the current year.

Institutional Trading of GE Vernova

A number of institutional investors have recently bought and sold shares of GEV. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of GE Vernova by 1.7% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,555 shares of the company’s stock valued at $650,000 after buying an additional 61 shares in the last quarter. Wedmont Private Capital increased its stake in GE Vernova by 3.2% during the 2nd quarter. Wedmont Private Capital now owns 3,533 shares of the company’s stock worth $638,000 after acquiring an additional 109 shares during the period. Deseret Mutual Benefit Administrators acquired a new position in GE Vernova in the 2nd quarter valued at $25,000. Trifecta Capital Advisors LLC bought a new stake in shares of GE Vernova during the 2nd quarter valued at $25,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of GE Vernova during the 2nd quarter worth $25,000.

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.