GE Vernova (NYSE:GEV) Price Target Raised to $420.00

GE Vernova (NYSE:GEV) had its price target boosted by equities researchers at BMO Capital Markets from $360.00 to $420.00 in a note issued to investors on Tuesday. BMO Capital Markets’ price objective suggests a potential upside of 1.41% from the company’s current price.

Several other research analysts also recently weighed in on GEV. JPMorgan Chase & Co. increased their price target on shares of GE Vernova from $367.00 to $374.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 14th. Jefferies Financial Group raised their price objective on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Oppenheimer started coverage on shares of GE Vernova in a research report on Thursday, September 26th. They set a “market perform” rating on the stock. Wolfe Research started coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of GE Vernova in a research report on Monday, October 21st. They set a “buy” rating and a $354.00 price objective on the stock. Seven equities research 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $326.85.

GE Vernova Stock Up 3.2 %

GEV traded up $12.73 during trading on Tuesday, hitting $414.14. The company’s stock had a trading volume of 2,476,754 shares, compared to its average volume of 2,692,468. GE Vernova has a one year low of $115.00 and a one year high of $415.19. The business’s 50 day simple moving average is $345.63 and its 200-day simple moving average is $266.62.

GE Vernova declared that its board has approved a share repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On GE Vernova

A number of large investors have recently made changes to their positions in GEV. Mountaineer Partners Management LLC purchased a new position in shares of GE Vernova during the 3rd quarter worth about $2,507,296,000. Marshall Wace LLP purchased a new position in shares of GE Vernova during the 2nd quarter worth about $399,770,000. Legal & General Group Plc purchased a new position in shares of GE Vernova during the 2nd quarter worth about $293,699,000. Electron Capital Partners LLC boosted its position in GE Vernova by 1,641.3% in the 2nd quarter. Electron Capital Partners LLC now owns 1,694,296 shares of the company’s stock valued at $290,589,000 after buying an additional 1,596,996 shares during the period. Finally, Lone Pine Capital LLC purchased a new stake in GE Vernova in the 2nd quarter valued at about $253,322,000.

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.