GE Vernova (NYSE:GEV) Price Target Increased to $246.00 by Analysts at Royal Bank of Canada

GE Vernova (NYSE:GEV) had its price target increased by Royal Bank of Canada from $192.00 to $246.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have an outperform rating on the stock.

GEV has been the topic of a number of other research reports. Evercore ISI lifted their price target on GE Vernova from $202.00 to $240.00 and gave the company an outperform rating in a report on Thursday, September 12th. JPMorgan Chase & Co. boosted their target price on GE Vernova from $216.00 to $240.00 and gave the stock an overweight rating in a report on Friday, September 13th. Bank of America raised GE Vernova from a neutral rating to a buy rating and boosted their target price for the stock from $200.00 to $300.00 in a report on Tuesday. Mizuho boosted their target price on GE Vernova from $186.00 to $208.00 and gave the stock an outperform rating in a report on Friday, July 26th. Finally, William Blair assumed coverage on GE Vernova in a report on Thursday, August 29th. They set an outperform rating on the stock. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $217.64.

GE Vernova Trading Up 3.8 %

GEV opened at $238.57 on Tuesday. The company’s 50 day simple moving average is $184.31. GE Vernova has a twelve month low of $115.00 and a twelve month high of $240.00.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates 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 anticipate that GE Vernova will post 3.02 earnings per share for the current year.

Hedge Funds Weigh In On GE Vernova

Several institutional investors and hedge funds have recently added to or reduced their stakes in GEV. Newport Trust Company LLC purchased a new position in GE Vernova during the 2nd quarter worth approximately $650,140,000. Bank of New York Mellon Corp purchased a new position in GE Vernova during the 2nd quarter worth approximately $537,674,000. Price T Rowe Associates Inc. MD purchased a new position in GE Vernova during the 1st quarter worth approximately $367,474,000. Marshall Wace LLP purchased a new position in GE Vernova during the 2nd quarter worth approximately $399,770,000. Finally, Legal & General Group Plc purchased a new position in GE Vernova during the 2nd quarter worth approximately $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.