GE Vernova (NYSE:GEV) Price Target Raised to $374.00

GE Vernova (NYSE:GEV) had its price objective upped by analysts at JPMorgan Chase & Co. from $367.00 to $374.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 2.15% from the stock’s current price.

Several other equities analysts have also recently commented on the stock. Raymond James cut shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Guggenheim lowered their price objective on shares of GE Vernova from $400.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Evercore ISI raised their target price on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Wolfe Research assumed coverage on GE Vernova in a report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price target for the company. Finally, Truist Financial raised their price objective on GE Vernova from $325.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Seven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $314.65.

GE Vernova Stock Performance

GE Vernova stock opened at $366.14 on Tuesday. The stock’s fifty day moving average price is $339.96 and its two-hundred day moving average price is $258.81. GE Vernova has a one year low of $115.00 and a one year high of $376.30.

GE Vernova declared that its board has initiated a share repurchase plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to buy up to 6.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

Institutional Trading of GE Vernova

Institutional investors have recently made changes to their positions in the company. Castleview Partners LLC purchased a new position in shares of GE Vernova in the 3rd quarter worth approximately $28,000. Covestor Ltd raised its stake in shares of GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 46 shares during the period. Darwin Wealth Management LLC purchased a new position in shares of GE Vernova in the 3rd quarter worth about $31,000. Prestige Wealth Management Group LLC grew its position in GE Vernova by 175.0% during the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after buying an additional 77 shares during the period. Finally, Planning Capital Management Corp increased its holdings in GE Vernova by 1,000.0% during the third quarter. Planning Capital Management Corp now owns 143 shares of the company’s stock worth $36,000 after buying an additional 130 shares during the last quarter.

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.