Jefferies Financial Group Forecasts Strong Price Appreciation for GE Vernova (NYSE:GEV) Stock

GE Vernova (NYSE:GEV) had its target price boosted by equities research analysts at Jefferies Financial Group from $348.00 to $391.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s target price indicates a potential upside of 17.77% from the company’s previous close.

A number of other equities analysts also recently commented on the company. Raymond James downgraded GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. The Goldman Sachs Group upped their price objective on GE Vernova from $324.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft assumed coverage on GE Vernova in a research note on Monday, October 21st. They issued a “buy” rating and a $354.00 target price on the stock. Barclays upped their price target on shares of GE Vernova from $320.00 to $420.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Wolfe Research began coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $314.35.

GE Vernova Stock Up 0.6 %

NYSE GEV opened at $332.01 on Friday. GE Vernova has a one year low of $115.00 and a one year high of $357.09. The company has a 50-day simple moving average of $312.53 and a 200-day simple moving average of $232.84.

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

Institutional Investors Weigh In On GE Vernova

Several hedge funds and other institutional investors have recently bought and sold shares of GEV. Mountaineer Partners Management LLC acquired a new position in shares of GE Vernova in the 3rd quarter worth approximately $2,507,296,000. Newport Trust Company LLC bought a new stake in GE Vernova during the second quarter worth approximately $650,140,000. Bank of New York Mellon Corp acquired a new position in GE Vernova in the second quarter worth approximately $537,674,000. Marshall Wace LLP bought a new position in shares of GE Vernova in the second quarter valued at $399,770,000. Finally, Legal & General Group Plc bought a new stake in shares of GE Vernova during the 2nd quarter worth $293,699,000.

GE Vernova Company Profile

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.