GE Vernova (NYSE:GEV) Given New $1,150.00 Price Target at JPMorgan Chase & Co.

GE Vernova (NYSE:GEV) had its price target boosted by analysts at JPMorgan Chase & Co. from $1,000.00 to $1,150.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 17.36% from the stock’s current price.

Several other brokerages have also commented on GEV. The Goldman Sachs Group upped their price target on shares of GE Vernova from $840.00 to $925.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Oppenheimer upped their price target on shares of GE Vernova from $871.00 to $1,139.00 and gave the stock an “outperform” rating in a research report on Thursday. TD Cowen upped their price target on shares of GE Vernova from $680.00 to $780.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Susquehanna increased their price objective on shares of GE Vernova from $820.00 to $1,080.00 and gave the stock a “positive” rating in a research report on Thursday, April 9th. Finally, UBS Group reissued a “buy” rating on shares of GE Vernova in a research report on Thursday, January 29th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $919.48.

GE Vernova Price Performance

GEV stock traded down $6.04 on Thursday, hitting $979.88. 965,354 shares of the company were exchanged, compared to its average volume of 2,744,960. GE Vernova has a twelve month low of $306.21 and a twelve month high of $1,007.38. The business’s fifty day moving average is $860.93 and its two-hundred day moving average is $709.94. The stock has a market capitalization of $263.45 billion, a price-to-earnings ratio of 55.05, a price-to-earnings-growth ratio of 3.88 and a beta of 1.43.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, topping the consensus estimate of $2.99 by $10.40. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The firm had revenue of $10.96 billion during the quarter, compared to analyst estimates of $10.21 billion. During the same quarter in the prior year, the business posted $1.73 earnings per share. GE Vernova’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts expect that GE Vernova will post 6.59 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Auto Owners Insurance Co boosted its stake in shares of GE Vernova by 110,973.4% in the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock valued at $2,278,224,000 after purchasing an additional 34,826,773 shares during the period. Vanguard Group Inc. boosted its stake in shares of GE Vernova by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock valued at $16,354,691,000 after purchasing an additional 208,162 shares during the period. State Street Corp boosted its stake in shares of GE Vernova by 2.1% in the fourth quarter. State Street Corp now owns 11,469,670 shares of the company’s stock valued at $7,496,232,000 after purchasing an additional 231,392 shares during the period. Geode Capital Management LLC boosted its stake in shares of GE Vernova by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock valued at $4,074,039,000 after purchasing an additional 68,894 shares during the period. Finally, Morgan Stanley boosted its stake in shares of GE Vernova by 12.8% in the fourth quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock valued at $3,957,024,000 after purchasing an additional 685,466 shares during the period.

GE Vernova Company Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.