Royal Bank of Canada Boosts GE Vernova (NYSE:GEV) Price Target to $285.00

GE Vernova (NYSE:GEV) had its target price hoisted by investment analysts at Royal Bank of Canada from $262.00 to $285.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential downside of 2.90% from the stock’s previous close.

GEV has been the topic of a number of other research reports. Jefferies Financial Group boosted their price target on shares of GE Vernova from $293.00 to $336.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Guggenheim started coverage on shares of GE Vernova in a research report on Tuesday, September 24th. They issued a “buy” rating and a $300.00 price target on the stock. Morgan Stanley boosted their price target on shares of GE Vernova from $220.00 to $256.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. William Blair started coverage on shares of GE Vernova in a research report on Thursday, August 29th. They issued an “outperform” rating on the stock. Finally, HSBC restated a “hold” rating and issued a $255.00 price target (up previously from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average target price of $261.40.

GE Vernova Trading Down 1.2 %

NYSE:GEV opened at $293.50 on Thursday. The firm’s 50 day simple moving average is $232.95 and its 200 day simple moving average is $188.73. GE Vernova has a one year low of $115.00 and a one year high of $298.81.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.42 billion. As a group, sell-side analysts expect that GE Vernova will post 3.21 EPS for the current fiscal year.

Institutional Trading of GE Vernova

Several institutional investors have recently made changes to their positions in the company. Cornerstone Wealth Group LLC bought a new stake in shares of GE Vernova in the 3rd quarter worth $305,000. Hudson Valley Investment Advisors Inc. ADV bought a new stake in shares of GE Vernova in the 3rd quarter worth $228,000. SteelPeak Wealth LLC grew its stake in shares of GE Vernova by 2.5% in the 3rd quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company’s stock worth $400,000 after acquiring an additional 38 shares in the last quarter. Diversify Wealth Management LLC bought a new stake in shares of GE Vernova in the 3rd quarter worth $308,000. Finally, First Trust Direct Indexing L.P. grew its stake in shares of GE Vernova by 89.8% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 7,918 shares of the company’s stock worth $2,019,000 after acquiring an additional 3,747 shares in the last quarter.

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.