JPMorgan Chase & Co. Increases GE Vernova (NYSE:GEV) Price Target to $330.00

GE Vernova (NYSE:GEV) had its price target lifted by equities researchers at JPMorgan Chase & Co. from $285.00 to $330.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 12.44% from the company’s previous close.

Several other research firms also recently weighed in on GEV. Morgan Stanley upped their price target on GE Vernova from $220.00 to $256.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Barclays raised their price objective on GE Vernova from $300.00 to $320.00 and gave the company an “overweight” rating in a research report on Thursday. BMO Capital Markets boosted their target price on GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Jefferies Financial Group lifted their price objective on GE Vernova from $293.00 to $336.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Guggenheim assumed coverage on shares of GE Vernova in a report on Tuesday, September 24th. They issued a “buy” rating and a $300.00 target price for the company. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.40.

GE Vernova Trading Down 1.2 %

GEV opened at $293.50 on Thursday. GE Vernova has a 1-year low of $115.00 and a 1-year high of $298.81. The firm’s 50 day simple moving average is $232.95 and its two-hundred day simple moving average is $188.73.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.42 billion. As a group, sell-side analysts predict that GE Vernova will post 3.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GE Vernova

Large investors have recently modified their holdings of the business. Aspire Private Capital LLC purchased a new stake in GE Vernova in the second quarter valued at about $40,000. Legal & General Group Plc acquired a new stake in shares of GE Vernova during the 2nd quarter worth approximately $293,699,000. Central Pacific Bank Trust Division increased its holdings in GE Vernova by 1,242.9% in the third quarter. Central Pacific Bank Trust Division now owns 2,350 shares of the company’s stock valued at $599,000 after buying an additional 2,175 shares in the last quarter. Concourse Financial Group Securities Inc. raised its position in shares of GE Vernova by 75.6% in the third quarter. Concourse Financial Group Securities Inc. now owns 4,958 shares of the company’s stock worth $1,264,000 after acquiring an additional 2,134 shares during the period. Finally, Park Avenue Securities LLC purchased a new stake in shares of GE Vernova during the 3rd quarter worth about $2,042,000.

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.