Jefferies Financial Group Raises GE Vernova (NYSE:GEV) Price Target to $293.00

GE Vernova (NYSE:GEV) had its price target hoisted by investment analysts at Jefferies Financial Group from $261.00 to $293.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s target price indicates a potential upside of 20.09% from the stock’s previous close.

Several other equities analysts have also issued reports on GEV. Citigroup began coverage on GE Vernova in a research report on Tuesday, June 11th. They set a “neutral” rating and a $183.00 target price for the company. Hsbc Global Res raised shares of GE Vernova to a “strong-buy” rating in a research note on Monday, August 12th. The Goldman Sachs Group increased their target price on shares of GE Vernova from $196.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Mizuho boosted their price target on shares of GE Vernova from $186.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Bank of America raised GE Vernova from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $200.00 to $300.00 in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $219.42.

GE Vernova Price Performance

Shares of GEV traded down $0.46 on Friday, reaching $243.99. 1,597,866 shares of the company’s stock were exchanged, compared to its average volume of 3,791,223. The stock’s 50 day simple moving average is $186.78. GE Vernova has a 12 month low of $115.00 and a 12 month high of $250.85.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. The business had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.42 billion. As a group, analysts expect that GE Vernova will post 3.02 EPS for the current year.

Institutional Trading of GE Vernova

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of GE Vernova in the 2nd quarter valued at $34,149,000. KP Management LLC acquired a new stake in GE Vernova in the second quarter worth $707,000. Newbridge Financial Services Group Inc. bought a new stake in shares of GE Vernova during the second quarter valued at approximately $76,000. SS&H Financial Advisors Inc. acquired a new position in GE Vernova during the second quarter worth $641,000. Finally, Prio Wealth Limited Partnership acquired a new position in GE Vernova during the 2nd quarter valued at about $1,223,000.

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.