Bank of America Forecasts Strong Price Appreciation for GE Vernova (NYSE:GEV) Stock

GE Vernova (NYSE:GEV) had its price objective lifted by research analysts at Bank of America from $725.00 to $804.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s target price would suggest a potential upside of 28.64% from the company’s current price.

GEV has been the topic of several other research reports. Weiss Ratings restated a “hold (c)” rating on shares of GE Vernova in a research report on Wednesday, October 8th. Jefferies Financial Group restated a “hold” rating and issued a $654.00 target price on shares of GE Vernova in a report on Monday, October 27th. Citigroup decreased their target price on shares of GE Vernova from $670.00 to $658.00 and set a “neutral” rating on the stock in a research report on Thursday, October 23rd. Mizuho dropped their price target on GE Vernova from $677.00 to $660.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Finally, Royal Bank Of Canada boosted their price objective on GE Vernova from $605.00 to $630.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 23rd. Four analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $625.85.

GE Vernova Stock Up 0.5%

Shares of GE Vernova stock opened at $625.02 on Wednesday. GE Vernova has a twelve month low of $252.25 and a twelve month high of $677.29. The business has a 50-day moving average price of $591.25 and a 200-day moving average price of $578.74. The firm has a market cap of $169.58 billion, a price-to-earnings ratio of 101.79, a PEG ratio of 4.63 and a beta of 1.71.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The firm had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.GE Vernova’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.35) earnings per share. On average, equities analysts expect that GE Vernova will post 6.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Sachetta LLC boosted its position in GE Vernova by 10.7% in the 2nd quarter. Sachetta LLC now owns 165 shares of the company’s stock valued at $87,000 after buying an additional 16 shares during the period. Good Life Advisors LLC boosted its holdings in shares of GE Vernova by 1.0% in the second quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock valued at $875,000 after purchasing an additional 16 shares during the period. Bell Investment Advisors Inc boosted its holdings in shares of GE Vernova by 6.7% in the second quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock valued at $135,000 after purchasing an additional 16 shares during the period. Northwest Wealth Management LLC grew its stake in GE Vernova by 3.6% in the third quarter. Northwest Wealth Management LLC now owns 465 shares of the company’s stock worth $286,000 after purchasing an additional 16 shares in the last quarter. Finally, AMG National Trust Bank increased its holdings in GE Vernova by 1.5% during the 2nd quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock worth $606,000 after purchasing an additional 17 shares during the period.

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.