Bank of America Raises GE Vernova (NYSE:GEV) Price Target to $415.00

GE Vernova (NYSE:GEVGet Free Report) had its target price increased by research analysts at Bank of America from $380.00 to $415.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s target price indicates a potential upside of 13.34% from the company’s current price.

A number of other research firms have also recently commented on GEV. William Blair reissued an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 11th. BMO Capital Markets lifted their target price on GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft initiated coverage on GE Vernova in a research note on Monday, October 21st. They issued a “buy” rating and a $354.00 price target for the company. Guggenheim reduced their price objective on shares of GE Vernova from $400.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Finally, HSBC restated a “hold” rating and set a $255.00 target price (up previously from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Seven analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $318.60.

Read Our Latest Stock Report on GE Vernova

GE Vernova Stock Performance

Shares of GEV stock opened at $366.14 on Tuesday. GE Vernova has a one year low of $115.00 and a one year high of $376.30. The company’s fifty day moving average price is $339.96 and its 200-day moving average price is $258.81.

GE Vernova announced that its Board of Directors has authorized a stock buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On GE Vernova

A number of large investors have recently made changes to their positions in the company. Castleview Partners LLC purchased a new stake in GE Vernova in the 3rd quarter worth about $28,000. Pathway Financial Advisers LLC bought a new position in shares of GE Vernova in the second quarter worth about $29,000. Glass Jacobson Investment Advisors llc bought a new position in GE Vernova in the 2nd quarter worth about $30,000. Covestor Ltd increased its position in shares of GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares during the period. Finally, Darwin Wealth Management LLC bought a new stake in shares of GE Vernova during the third quarter valued at approximately $31,000.

GE Vernova Company Profile

(Get Free Report)

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.

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