Barclays Boosts GE Vernova (NYSE:GEV) Price Target to $320.00

GE Vernova (NYSE:GEV) had its price target boosted by stock analysts at Barclays from $300.00 to $320.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 9.03% from the company’s previous close.

Other analysts also recently issued reports about the company. Redburn Atlantic started coverage on GE Vernova in a research report on Tuesday, July 2nd. They issued a “neutral” rating and a $178.00 price target for the company. Truist Financial began coverage on shares of GE Vernova in a research note on Thursday, September 26th. They set a “buy” rating and a $300.00 price target for the company. Raymond James lowered shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Hsbc Global Res lowered GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $262.00 price target on shares of GE Vernova in a report on Friday, October 18th. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $261.40.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $293.50 on Thursday. GE Vernova has a 52 week low of $115.00 and a 52 week high of $298.81. The firm has a fifty day simple moving average of $232.95 and a two-hundred day simple moving average of $188.73.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.42 billion. On average, equities research analysts predict that GE Vernova will post 3.21 EPS for the current year.

Institutional Trading of GE Vernova

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