BMO Capital Markets Boosts GE Vernova (NYSE:GEV) Price Target to $288.00

GE Vernova (NYSE:GEV) had its target price boosted by equities researchers at BMO Capital Markets from $245.00 to $288.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective points to a potential upside of 8.12% from the stock’s current price.

Several other research firms have also issued reports on GEV. Barclays lifted their price objective on shares of GE Vernova from $250.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. increased their price target on GE Vernova from $240.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Mizuho boosted their price objective on shares of GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Raymond James lowered shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Finally, HSBC restated a “hold” rating and issued a $255.00 price objective (up previously from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.78.

GE Vernova Trading Down 1.2 %

Shares of GEV opened at $266.36 on Monday. The company’s 50 day moving average is $218.99. GE Vernova has a 52 week low of $115.00 and a 52 week high of $270.87.

GE Vernova (NYSE:GEV) last posted its quarterly 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 analyst estimates of $8.42 billion. On average, equities research analysts predict that GE Vernova will post 3.21 EPS for the current year.

Institutional Investors Weigh In On GE Vernova

Hedge funds have recently added to or reduced their stakes in the stock. Deseret Mutual Benefit Administrators bought a new position in GE Vernova in the second quarter valued at approximately $25,000. Trifecta Capital Advisors LLC acquired a new position in shares of GE Vernova in the 2nd quarter valued at approximately $25,000. Meeder Asset Management Inc. bought a new stake in GE Vernova during the 2nd quarter worth approximately $25,000. Global Trust Asset Management LLC acquired a new stake in GE Vernova during the 2nd quarter worth approximately $26,000. Finally, Timber Creek Capital Management LLC bought a new position in GE Vernova in the second quarter valued at approximately $27,000.

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.