JPMorgan Chase & Co. Increases GE Vernova (NYSE:GEV) Price Target to $285.00

GE Vernova (NYSE:GEV) had its price target lifted by JPMorgan Chase & Co. from $240.00 to $285.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 6.90% from the stock’s previous close.

Other analysts have also issued reports about the stock. Daiwa Capital Markets initiated coverage on shares of GE Vernova in a research report on Friday, June 21st. They issued an “outperform” rating and a $201.50 price target on the stock. Mizuho boosted their price target on GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Guggenheim initiated coverage on GE Vernova in a research note on Tuesday, September 24th. They set a “buy” rating and a $300.00 price objective on the stock. Barclays boosted their target price 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. Finally, Truist Financial began coverage on shares of GE Vernova in a report on Thursday, September 26th. They issued a “buy” rating and a $300.00 target price on the stock. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $237.23.

GE Vernova Stock Up 0.9 %

NYSE:GEV traded up $2.33 during mid-day trading on Wednesday, reaching $266.60. The stock had a trading volume of 1,890,556 shares, compared to its average volume of 3,694,498. GE Vernova has a twelve month low of $115.00 and a twelve month high of $269.30. The firm’s 50 day moving average price is $209.19.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.42 billion. Analysts expect that GE Vernova will post 2.83 EPS for the current year.

Hedge Funds Weigh In On GE Vernova

A number of institutional investors and hedge funds have recently bought and sold shares of GEV. Newport Trust Company LLC purchased a new position in shares of GE Vernova in the second quarter valued at $650,140,000. Bank of New York Mellon Corp acquired a new stake in shares of GE Vernova during the second quarter worth $537,674,000. Price T Rowe Associates Inc. MD bought a new position in GE Vernova in the first quarter worth about $367,474,000. Marshall Wace LLP acquired a new position in shares of GE Vernova during the second quarter valued at $399,770,000. Finally, Legal & General Group Plc bought a new position in GE Vernova in the 2nd quarter worth about $293,699,000.

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.