GE Vernova (NYSE:GEV) PT Raised to $288.00 at BMO Capital Markets

GE Vernova (NYSE:GEV) had its price target raised by equities research analysts at BMO Capital Markets from $245.00 to $288.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ target price indicates a potential upside of 7.80% from the company’s previous close.

Other analysts also recently issued reports about the company. Royal Bank of Canada lifted their target price on GE Vernova from $192.00 to $246.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 17th. Hsbc Global Res lowered GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. JPMorgan Chase & Co. raised their price objective on GE Vernova from $240.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. HSBC reiterated a “hold” rating and issued a $255.00 target price (up from $240.00) on shares of GE Vernova in a report on Friday, October 4th. Finally, Redburn Atlantic initiated coverage on GE Vernova in a report on Tuesday, July 2nd. They issued a “neutral” rating and a $178.00 price objective for the company. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.78.

GE Vernova Price Performance

GE Vernova stock traded up $0.28 during midday trading on Monday, reaching $267.17. The stock had a trading volume of 896,902 shares, compared to its average volume of 3,646,650. GE Vernova has a 52-week low of $115.00 and a 52-week high of $270.83. The stock has a fifty day simple moving average of $214.80.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate 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. Research analysts anticipate that GE Vernova will post 3.21 earnings per share for the current fiscal year.

Institutional Trading of GE Vernova

Institutional investors have recently bought and sold shares of the stock. Deseret Mutual Benefit Administrators purchased a new position in shares of GE Vernova in the second quarter worth $25,000. Trifecta Capital Advisors LLC acquired a new stake in GE Vernova during the 2nd quarter worth about $25,000. Meeder Asset Management Inc. purchased a new stake in GE Vernova during the 2nd quarter valued at about $25,000. Global Trust Asset Management LLC purchased a new stake in GE Vernova during the 2nd quarter valued at about $26,000. Finally, Gradient Investments LLC acquired a new position in shares of GE Vernova in the second quarter valued at about $27,000.

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.