GE Vernova (NYSE:GEV) Given New $411.00 Price Target at Wells Fargo & Company

GE Vernova (NYSE:GEV) had its target price increased by investment analysts at Wells Fargo & Company from $385.00 to $411.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 23.79% from the stock’s current price.

GEV has been the subject of several other research reports. The Goldman Sachs Group lifted their target price on GE Vernova from $324.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of GE Vernova in a report on Monday, October 21st. They issued a “buy” rating and a $354.00 price objective for the company. Morgan Stanley increased their target price on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Jefferies Financial Group lifted their price target on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday. Finally, Evercore ISI boosted their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research report on Wednesday. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $314.35.

GE Vernova Trading Up 0.6 %

NYSE:GEV opened at $332.01 on Friday. GE Vernova has a one year low of $115.00 and a one year high of $357.09. The stock has a 50-day simple moving average of $312.53 and a 200 day simple moving average of $232.84.

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

Institutional Investors Weigh In On GE Vernova

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GEV. Castleview Partners LLC acquired a new position in shares of GE Vernova during the 3rd quarter valued at $28,000. Covestor Ltd lifted its holdings in shares of GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after buying an additional 46 shares during the period. Darwin Wealth Management LLC bought a new position in GE Vernova during the third quarter valued at about $31,000. Prestige Wealth Management Group LLC grew its holdings in GE Vernova by 175.0% during the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 77 shares during the period. Finally, Planning Capital Management Corp raised its position in GE Vernova by 1,000.0% in the third quarter. Planning Capital Management Corp now owns 143 shares of the company’s stock worth $36,000 after acquiring an additional 130 shares in the last quarter.

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.