GE Vernova (NYSE:GEV) Price Target Increased to $240.00 by Analysts at Evercore ISI

GE Vernova (NYSE:GEV) had its price objective boosted by stock analysts at Evercore ISI from $202.00 to $240.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s price target would indicate a potential upside of 11.22% from the company’s previous close.

GEV has been the subject of several other research reports. Mizuho raised their target price on shares of GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. The Goldman Sachs Group boosted their target price on shares of GE Vernova from $196.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Daiwa America raised shares of GE Vernova to a “strong-buy” rating in a report on Friday, June 21st. Argus assumed coverage on shares of GE Vernova in a report on Thursday, June 13th. They issued a “buy” rating and a $190.00 price objective for the company. Finally, Morgan Stanley reissued an “overweight” rating and issued a $220.00 price objective on shares of GE Vernova in a report on Monday, August 26th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $196.66.

GE Vernova Stock Performance

Shares of NYSE GEV traded up $6.64 during midday trading on Thursday, hitting $215.79. The stock had a trading volume of 2,687,933 shares, compared to its average volume of 3,810,544. The firm’s 50 day moving average is $180.04. GE Vernova has a 52 week low of $115.00 and a 52 week high of $217.00.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. The firm had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.42 billion. On average, analysts forecast that GE Vernova will post 3.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GE Vernova

Large investors have recently bought and sold shares of the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in GE Vernova by 1.7% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,555 shares of the company’s stock valued at $650,000 after acquiring an additional 61 shares during the last quarter. Wedmont Private Capital grew its holdings in GE Vernova by 3.2% in the 2nd quarter. Wedmont Private Capital now owns 3,533 shares of the company’s stock valued at $638,000 after buying an additional 109 shares during the period. Deseret Mutual Benefit Administrators acquired a new stake in shares of GE Vernova in the second quarter worth approximately $25,000. Trifecta Capital Advisors LLC purchased a new stake in GE Vernova in the second quarter valued at approximately $25,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of GE Vernova in the 2nd quarter valued at $25,000.

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.