GE Vernova (NYSE:GEV) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

GE Vernova (NYSE:GEV) had its target price hoisted by stock analysts at JPMorgan Chase & Co. from $367.00 to $374.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 3.21% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Wolfe Research initiated coverage on GE Vernova in a research note on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price for the company. Morgan Stanley boosted their target price on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Bank of America increased their price target on shares of GE Vernova from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $376.00 price objective on shares of GE Vernova in a report on Wednesday, December 11th. Finally, TD Cowen initiated coverage on GE Vernova in a research note on Thursday, December 5th. They set a “buy” rating and a $400.00 price target for the company. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $318.60.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $386.40 on Tuesday. GE Vernova has a 1 year low of $115.00 and a 1 year high of $392.77. The company’s fifty day moving average is $341.28 and its two-hundred day moving average is $260.29.

GE Vernova declared that its board has authorized a stock repurchase plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of GE Vernova

A number of institutional investors and hedge funds have recently bought and sold shares of GEV. Castleview Partners LLC purchased a new stake in GE Vernova during the third quarter worth approximately $28,000. Pathway Financial Advisers LLC purchased a new stake in GE Vernova during the 2nd quarter worth $29,000. Glass Jacobson Investment Advisors llc purchased a new stake in GE Vernova during the 2nd quarter worth $30,000. Covestor Ltd increased its holdings in GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares in the last quarter. Finally, Darwin Wealth Management LLC purchased a new position in GE Vernova in the third quarter valued at about $31,000.

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.