JPMorgan Chase & Co. Raises GE Vernova (NYSE:GEV) Price Target to $330.00

GE Vernova (NYSE:GEV) had its target price lifted by equities researchers at JPMorgan Chase & Co. from $285.00 to $330.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 12.44% from the company’s current price.

A number of other research firms have also issued reports on GEV. Bank of America upgraded GE Vernova from a “neutral” rating to a “buy” rating and upped their price target for the company from $200.00 to $300.00 in a research report on Tuesday, September 17th. Guggenheim started coverage on GE Vernova in a research note on Tuesday, September 24th. They issued a “buy” rating and a $300.00 target price for the company. Oppenheimer began coverage on shares of GE Vernova in a research note on Thursday, September 26th. They set a “market perform” rating on the stock. HSBC reaffirmed a “hold” rating and issued a $255.00 price target (up previously from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Finally, BMO Capital Markets upped their price objective on shares of GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $261.40.

GE Vernova Stock Down 1.2 %

GEV opened at $293.50 on Thursday. The firm’s fifty day simple moving average is $232.95 and its two-hundred day simple moving average is $188.73. GE Vernova has a 52-week low of $115.00 and a 52-week high of $298.81.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.42 billion. Equities research analysts expect that GE Vernova will post 3.21 EPS for the current year.

Institutional Investors Weigh In On GE Vernova

Several large investors have recently modified their holdings of GEV. Deseret Mutual Benefit Administrators acquired a new stake in shares of GE Vernova in the 2nd quarter worth $25,000. Trifecta Capital Advisors LLC acquired a new stake in GE Vernova in the second quarter valued at about $25,000. Meeder Asset Management Inc. purchased a new stake in GE Vernova in the 2nd quarter valued at approximately $25,000. Global Trust Asset Management LLC purchased a new position in shares of GE Vernova during the 2nd quarter worth approximately $26,000. Finally, Timber Creek Capital Management LLC acquired a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $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.