Royal Bank of Canada Increases GE Vernova (NYSE:GEV) Price Target to $246.00

GE Vernova (NYSE:GEV) had its price objective lifted by Royal Bank of Canada from $192.00 to $246.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research firms have also recently commented on GEV. William Blair started coverage on shares of GE Vernova in a report on Thursday, August 29th. They set an outperform rating for the company. Argus started coverage on shares of GE Vernova in a research note on Thursday, June 13th. They set a buy rating and a $190.00 target price for the company. The Goldman Sachs Group upped their price target on shares of GE Vernova from $196.00 to $220.00 and gave the stock a buy rating in a research note on Friday, July 26th. HSBC assumed coverage on GE Vernova in a research report on Monday, August 12th. They set a buy rating and a $215.00 price objective for the company. Finally, Jefferies Financial Group began coverage on GE Vernova in a research report on Wednesday, September 4th. They issued a buy rating and a $261.00 target price on the stock. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $219.42.

GE Vernova Stock Performance

NYSE GEV opened at $245.46 on Tuesday. The business’s 50 day moving average price is $188.08. GE Vernova has a twelve month low of $115.00 and a twelve month high of $250.85.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.42 billion. As a group, equities analysts expect that GE Vernova will post 3.02 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Anchor Investment Management LLC bought a new position in GE Vernova during the second quarter valued at about $326,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of GE Vernova during the 2nd quarter worth approximately $34,149,000. KP Management LLC bought a new stake in shares of GE Vernova during the second quarter valued at approximately $707,000. Newbridge Financial Services Group Inc. acquired a new position in shares of GE Vernova in the second quarter valued at $76,000. Finally, SS&H Financial Advisors Inc. bought a new position in GE Vernova in the second quarter worth $641,000.

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.