Brokerages Set GE Vernova Inc. (NYSE:GEV) Price Target at $234.98

GE Vernova Inc. (NYSE:GEV) has been given a consensus recommendation of “Moderate Buy” by the twenty-four analysts that are currently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $241.63.

Several brokerages recently weighed in on GEV. Royal Bank of Canada increased their price objective on shares of GE Vernova from $192.00 to $246.00 and gave the company an “outperform” rating in a report on Tuesday, September 17th. Daiwa America upgraded GE Vernova to a “strong-buy” rating in a research report on Friday, June 21st. Truist Financial began coverage on GE Vernova in a report on Thursday, September 26th. They issued a “buy” rating and a $300.00 price objective for the company. Mizuho increased their target price on GE Vernova from $186.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Oppenheimer initiated coverage on GE Vernova in a research note on Thursday, September 26th. They issued a “market perform” rating for the company.

Hedge Funds Weigh In On GE Vernova

A number of institutional investors and hedge funds have recently bought and sold shares of GEV. Newport Trust Company LLC acquired a new position in GE Vernova in the second quarter valued at $650,140,000. Bank of New York Mellon Corp acquired a new position in shares of GE Vernova in the 2nd quarter valued at about $537,674,000. Price T Rowe Associates Inc. MD bought a new stake in shares of GE Vernova during the 1st quarter valued at about $367,474,000. Marshall Wace LLP acquired a new stake in GE Vernova during the second quarter worth approximately $399,770,000. Finally, Legal & General Group Plc bought a new stake in GE Vernova in the second quarter worth approximately $293,699,000.

GE Vernova Stock Up 0.9 %

Shares of GEV opened at $266.89 on Wednesday. The company has a fifty day simple moving average of $212.76. GE Vernova has a 52-week low of $115.00 and a 52-week high of $270.11.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates 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 3.21 earnings per share for the current year.

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.