GE Vernova (NYSE:GEV) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

GE Vernova (NYSE:GEV) had its price objective upped by Royal Bank of Canada from $285.00 to $376.00 in a research note released on Monday, Marketbeat Ratings reports. The firm currently has an outperform rating on the stock.

GEV has been the subject of a number of other research reports. BMO Capital Markets raised their price objective on GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. William Blair assumed coverage on GE Vernova in a report on Thursday, August 29th. They set an “outperform” rating for the company. Raymond James cut GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of GE Vernova in a report on Monday, October 21st. They issued a “buy” rating and a $354.00 target price for the company. Finally, The Goldman Sachs Group upped their price target on shares of GE Vernova from $220.00 to $308.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating, eighteen 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 stock presently has an average rating of “Moderate Buy” and a consensus target price of $274.16.

GE Vernova Price Performance

GEV stock opened at $329.00 on Monday. The company’s fifty day moving average price is $288.35 and its 200-day moving average price is $216.55. GE Vernova has a one year low of $115.00 and a one year high of $357.09.

Institutional Trading of GE Vernova

Several institutional investors and hedge funds have recently modified their holdings of GEV. FMR LLC raised its position in GE Vernova by 2.5% during the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after purchasing an additional 584,208 shares in the last quarter. State Street Corp increased its stake in shares of GE Vernova by 1.1% during the third quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $2,660,695,000 after buying an additional 118,184 shares during the period. Mountaineer Partners Management LLC bought a new stake in shares of GE Vernova in the third quarter valued at about $2,507,296,000. Geode Capital Management LLC lifted its stake in GE Vernova by 1.5% in the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock worth $1,420,763,000 after acquiring an additional 80,479 shares during the period. Finally, Newport Trust Company LLC bought a new position in GE Vernova during the 2nd quarter worth about $650,140,000.

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.