JPMorgan Chase & Co. Increases GE Vernova (NYSE:GEV) Price Target to $285.00

GE Vernova (NYSE:GEV) had its price objective lifted by JPMorgan Chase & Co. from $240.00 to $285.00 in a research report sent to investors on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other analysts also recently issued research reports about the company. Guggenheim started coverage on GE Vernova in a research report on Tuesday, September 24th. They issued a buy rating and a $300.00 target price on the stock. Truist Financial initiated coverage on GE Vernova in a report on Thursday, September 26th. They issued a buy rating and a $300.00 price objective for the company. Citigroup began coverage on shares of GE Vernova in a report on Tuesday, June 11th. They set a neutral rating and a $183.00 target price on the stock. Redburn Atlantic initiated coverage on shares of GE Vernova in a research note on Tuesday, July 2nd. They issued a neutral rating and a $178.00 price target for the company. Finally, Mizuho boosted their price objective on shares of GE Vernova from $186.00 to $208.00 and gave the stock an outperform rating in a research note on Friday, July 26th. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova presently has a consensus rating of Moderate Buy and a consensus target price of $241.63.

GE Vernova Price Performance

NYSE:GEV opened at $266.89 on Wednesday. GE Vernova has a twelve month low of $115.00 and a twelve month high of $270.11. The business’s 50 day moving average price is $214.80.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. The business had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.42 billion. On average, sell-side analysts forecast that GE Vernova will post 3.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GE Vernova

Several institutional investors have recently made changes to their positions in GEV. Creative Planning increased its stake in GE Vernova by 11.4% during the 3rd quarter. Creative Planning now owns 52,641 shares of the company’s stock worth $13,422,000 after acquiring an additional 5,382 shares during the period. Wesbanco Bank Inc. raised its stake in GE Vernova by 5.8% in the third quarter. Wesbanco Bank Inc. now owns 14,736 shares of the company’s stock valued at $3,757,000 after purchasing an additional 802 shares in the last quarter. Sapient Capital LLC bought a new stake in GE Vernova during the third quarter worth about $5,818,000. Armstrong Advisory Group Inc. grew its stake in GE Vernova by 68.3% during the third quarter. Armstrong Advisory Group Inc. now owns 771 shares of the company’s stock worth $197,000 after buying an additional 313 shares in the last quarter. Finally, Sound Income Strategies LLC increased its holdings in GE Vernova by 59.3% in the 3rd quarter. Sound Income Strategies LLC now owns 427 shares of the company’s stock valued at $109,000 after buying an additional 159 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.