GE Vernova Inc. (NYSE:GEV) Receives $261.40 Average Price Target from Analysts

Shares of GE Vernova Inc. (NYSE:GEV) have received a consensus rating of “Moderate Buy” from the twenty-five research firms that are currently covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $261.40.

Several brokerages recently commented on GEV. Jefferies Financial Group boosted their price target on GE Vernova from $293.00 to $336.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. The Goldman Sachs Group raised their price target on shares of GE Vernova from $220.00 to $308.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Oppenheimer started coverage on shares of GE Vernova in a research note on Thursday, September 26th. They set a “market perform” rating for the company. HSBC reissued a “hold” rating and issued a $255.00 target price (up from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on GE Vernova in a report on Monday, October 21st. They issued a “buy” rating and a $354.00 price target for the company.

GE Vernova Price Performance

GEV stock opened at $336.78 on Friday. GE Vernova has a 52 week low of $115.00 and a 52 week high of $340.41. The firm has a 50-day simple moving average of $254.36 and a 200-day simple moving average of $199.77.

Institutional Investors Weigh In On GE Vernova

Several institutional investors and hedge funds have recently modified their holdings of GEV. Newport Trust Company LLC acquired a new stake in shares of GE Vernova during the second quarter worth about $650,140,000. Bank of New York Mellon Corp acquired a new stake in GE Vernova during the 2nd quarter worth approximately $537,674,000. Price T Rowe Associates Inc. MD purchased a new position in GE Vernova in the 1st quarter valued at approximately $367,474,000. Marshall Wace LLP purchased a new position in GE Vernova in the 2nd quarter valued at approximately $399,770,000. Finally, Legal & General Group Plc purchased a new stake in shares of GE Vernova during the second quarter worth $293,699,000.

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.