GE Vernova (NYSE:GEV) Given New $285.00 Price Target at Royal Bank of Canada

GE Vernova (NYSE:GEV) had its price objective lifted by Royal Bank of Canada from $262.00 to $285.00 in a research report released on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also issued reports about the stock. Barclays increased their price target on shares of GE Vernova from $300.00 to $320.00 and gave the company an “overweight” rating in a research note on Thursday. Morgan Stanley lifted their price target on shares of GE Vernova from $220.00 to $256.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. The Goldman Sachs Group boosted their price target on shares of GE Vernova from $220.00 to $308.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Redburn Atlantic started coverage on GE Vernova in a report on Tuesday, July 2nd. They set a “neutral” rating and a $178.00 price objective on the stock. Finally, HSBC reiterated a “hold” rating and set a $255.00 target price (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 issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $261.40.

GE Vernova Stock Performance

Shares of GEV stock traded down $0.23 on Thursday, reaching $296.77. 632,746 shares of the stock were exchanged, compared to its average volume of 3,583,822. GE Vernova has a twelve month low of $115.00 and a twelve month high of $298.81. The business’s 50 day moving average price is $230.78 and its 200 day moving average price is $187.97.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.42 billion. Sell-side analysts predict that GE Vernova will post 3.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GE Vernova

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Castleview Partners LLC purchased a new position in GE Vernova in the third quarter valued at about $28,000. Deseret Mutual Benefit Administrators bought a new position in GE Vernova during the 2nd quarter valued at $25,000. Trifecta Capital Advisors LLC acquired a new position in GE Vernova during the 2nd quarter worth $25,000. Meeder Asset Management Inc. bought a new stake in shares of GE Vernova in the 2nd quarter worth about $25,000. Finally, Global Trust Asset Management LLC acquired a new stake in shares of GE Vernova in the 2nd quarter valued at about $26,000.

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.