GE Vernova (NYSE:GEV) Given New $320.00 Price Target at Bank of America

GE Vernova (NYSE:GEV) had its target price increased by Bank of America from $300.00 to $320.00 in a research note published on Thursday, Benzinga reports. Bank of America currently has a buy rating on the stock.

Several other brokerages also recently weighed in on GEV. Jefferies Financial Group lifted their target price on GE Vernova from $293.00 to $336.00 and gave the company a “buy” rating in a research note on Friday, October 18th. William Blair assumed coverage on GE Vernova in a research note on Thursday, August 29th. They issued an “outperform” rating for the company. Mizuho raised their price target on shares of GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Truist Financial started coverage on shares of GE Vernova in a research report on Thursday, September 26th. They issued a “buy” rating and a $300.00 target price for the company. Finally, BMO Capital Markets boosted their price target on shares of GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $261.40.

GE Vernova Stock Performance

NYSE GEV traded down $2.76 during trading hours on Thursday, reaching $294.24. The company’s stock had a trading volume of 316,500 shares, compared to its average volume of 3,581,671. GE Vernova has a 52 week low of $115.00 and a 52 week high of $298.59. The business has a 50-day simple moving average of $230.78 and a 200 day simple moving average of $187.97.

GE Vernova (NYSE:GEV) last posted its 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 the consensus estimate of $8.42 billion. As a group, sell-side analysts forecast that GE Vernova will post 3.21 earnings per share for the current year.

Institutional Investors Weigh In On GE Vernova

A number of institutional investors and hedge funds have recently modified their holdings of the business. Castleview Partners LLC acquired a new position in GE Vernova in the third quarter valued at about $28,000. Deseret Mutual Benefit Administrators acquired a new stake in shares of GE Vernova during the second quarter worth about $25,000. Trifecta Capital Advisors LLC acquired a new stake in GE Vernova during the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. bought a new stake in shares of GE Vernova during the second quarter worth $25,000. Finally, Global Trust Asset Management LLC bought a new stake in GE Vernova in the 2nd quarter valued at approximately $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.