GE Vernova (NYSE:GEV) Given New $376.00 Price Target at Royal Bank of Canada

GE Vernova (NYSE:GEV) had its price objective raised by equities research analysts at Royal Bank of Canada from $285.00 to $376.00 in a research note issued to investors on Monday, MarketBeat reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 10.92% from the stock’s previous close.

A number of other analysts have also recently weighed in on GEV. Wells Fargo & Company initiated coverage on GE Vernova in a research report on Thursday, November 21st. They issued an “overweight” rating and a $385.00 price target on the stock. Jefferies Financial Group upped their price target on GE Vernova from $293.00 to $336.00 and gave the company a “buy” rating in a research report on Friday, October 18th. BMO Capital Markets upped their price target on GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Evercore ISI upped their price target on GE Vernova from $300.00 to $323.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. upped their price target on GE Vernova from $285.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $274.16.

GE Vernova Stock Performance

GEV opened at $339.00 on Monday. The stock’s 50 day simple moving average is $290.36 and its 200-day simple moving average is $217.76. GE Vernova has a 1 year low of $115.00 and a 1 year high of $357.09.

Hedge Funds Weigh In On GE Vernova

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GEV. Tidal Investments LLC raised its position in shares of GE Vernova by 5.4% during the third quarter. Tidal Investments LLC now owns 7,271 shares of the company’s stock worth $1,854,000 after purchasing an additional 374 shares during the period. Optimist Retirement Group LLC acquired a new stake in shares of GE Vernova during the third quarter worth about $249,000. Blankinship & Foster LLC acquired a new stake in shares of GE Vernova during the third quarter worth about $204,000. Wilmington Savings Fund Society FSB raised its position in shares of GE Vernova by 219.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 10,265 shares of the company’s stock worth $2,617,000 after purchasing an additional 7,054 shares during the period. Finally, World Investment Advisors LLC raised its position in shares of GE Vernova by 41.4% during the third quarter. World Investment Advisors LLC now owns 2,876 shares of the company’s stock worth $733,000 after purchasing an additional 842 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.