GE Vernova (NYSE:GEV) Given New $376.00 Price Target at Royal Bank of Canada

GE Vernova (NYSE:GEV) had its price target raised by Royal Bank of Canada from $285.00 to $376.00 in a research report report published on Monday, MarketBeat reports. The firm currently has an outperform rating on the stock.

Other equities research analysts have also recently issued reports about the company. Barclays increased their target price on GE Vernova from $300.00 to $320.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Hsbc Global Res cut GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. Morgan Stanley increased their price objective on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. HSBC reiterated a “hold” rating and issued a $255.00 price objective (up previously from $240.00) on shares of GE Vernova in a report on Friday, October 4th. Finally, Wells Fargo & Company initiated coverage on GE Vernova in a report on Thursday, November 21st. They issued an “overweight” rating and a $385.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $274.16.

GE Vernova Stock Performance

Shares of GEV stock opened at $335.33 on Monday. GE Vernova has a 1-year low of $115.00 and a 1-year high of $357.09. The business has a 50-day moving average of $294.17 and a 200 day moving average of $219.39.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Franklin Resources Inc. raised 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 purchasing an additional 71,067 shares during the last quarter. Tidal Investments LLC raised its stake in shares of GE Vernova by 5.4% in the third quarter. Tidal Investments LLC now owns 7,271 shares of the company’s stock worth $1,854,000 after purchasing an additional 374 shares during the last quarter. Optimist Retirement Group LLC bought a new stake in shares of GE Vernova in the third quarter worth $249,000. Blankinship & Foster LLC bought a new stake in shares of GE Vernova in the third quarter worth $204,000. Finally, Wilmington Savings Fund Society FSB grew its holdings in shares of GE Vernova by 219.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 10,265 shares of the company’s stock worth $2,617,000 after acquiring an additional 7,054 shares during the period.

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.