Royal Bank of Canada Forecasts Strong Price Appreciation for GE Vernova (NYSE:GEV) Stock

GE Vernova (NYSE:GEV) had its price target boosted by Royal Bank of Canada from $285.00 to $376.00 in a research note issued to investors on Monday, Marketbeat.com reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 10.92% from the company’s current price.

GEV has been the topic of a number of other reports. Jefferies Financial Group lifted their target price on GE Vernova from $293.00 to $336.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Raymond James lowered GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on GE Vernova in a report on Monday, October 21st. They set a “buy” rating and a $354.00 target price on the stock. Barclays lifted their target price on GE Vernova from $300.00 to $320.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Hsbc Global Res lowered GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $274.16.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $339.00 on Monday. The firm’s 50-day simple moving average is $290.36 and its 200 day simple moving average is $217.76. GE Vernova has a fifty-two week low of $115.00 and a fifty-two week high of $357.09.

Institutional Investors Weigh In On GE Vernova

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC increased its position in GE Vernova by 2.5% in the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after buying an additional 584,208 shares during the period. State Street Corp increased its position in GE Vernova by 1.1% in the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after buying an additional 118,184 shares during the period. Mountaineer Partners Management LLC bought a new position in GE Vernova in the 3rd quarter worth approximately $2,507,296,000. Geode Capital Management LLC increased its position in shares of GE Vernova by 1.5% during the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock valued at $1,420,763,000 after purchasing an additional 80,479 shares during the period. Finally, Newport Trust Company LLC bought a new stake in shares of GE Vernova during the second quarter valued at approximately $650,140,000.

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.