Evercore ISI Boosts GE Vernova (NYSE:GEV) Price Target to $390.00

GE Vernova (NYSE:GEV) had its price objective boosted by stock analysts at Evercore ISI from $385.00 to $390.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s target price would indicate a potential upside of 12.32% from the company’s current price.

Other analysts have also issued research reports about the company. JPMorgan Chase & Co. upped their target price on GE Vernova from $330.00 to $356.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Barclays raised their target price on GE Vernova from $320.00 to $420.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Citigroup raised their target price on GE Vernova from $292.00 to $361.00 and gave the company a “neutral” rating in a research note on Monday. TD Cowen started coverage on GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price on the stock. Finally, The Goldman Sachs Group upped their price objective on GE Vernova from $220.00 to $308.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $306.69.

GE Vernova Stock Up 6.1 %

Shares of GE Vernova stock traded up $19.84 during trading on Wednesday, reaching $347.23. 3,177,394 shares of the company were exchanged, compared to its average volume of 3,433,830. GE Vernova has a twelve month low of $115.00 and a twelve month high of $357.09. The business has a 50-day moving average price of $307.87 and a 200-day moving average price of $229.90.

GE Vernova declared that its board has initiated a stock buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On GE Vernova

Hedge funds have recently bought and sold shares of the company. Retirement Systems of Alabama lifted its stake in shares of GE Vernova by 2.4% during the third quarter. Retirement Systems of Alabama now owns 61,894 shares of the company’s stock worth $15,782,000 after purchasing an additional 1,433 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of GE Vernova by 3.7% in the third quarter. Franklin Resources Inc. now owns 1,978,691 shares of the company’s stock worth $533,257,000 after acquiring an additional 71,067 shares during the last quarter. Tidal Investments LLC increased its position in GE Vernova by 5.4% during the third quarter. Tidal Investments LLC now owns 7,271 shares of the company’s stock worth $1,854,000 after buying an additional 374 shares during the last quarter. Optimist Retirement Group LLC acquired a new position in GE Vernova in the third quarter worth about $249,000. Finally, Blankinship & Foster LLC acquired a new stake in shares of GE Vernova during the third quarter worth approximately $204,000.

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.