Evercore ISI Boosts GE Vernova (NYSE:GEV) Price Target to $202.00

GE Vernova (NYSE:GEV) had its price target upped by Evercore ISI from $174.00 to $202.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other brokerages have also recently issued reports on GEV. Royal Bank of Canada reaffirmed an outperform rating and set a $180.00 target price on shares of GE Vernova in a research report on Monday, July 22nd. Mizuho raised their price objective on GE Vernova from $154.00 to $164.00 and gave the company a buy rating in a research report on Wednesday, May 1st. Morgan Stanley assumed coverage on shares of GE Vernova in a report on Thursday, May 23rd. They issued an equal weight rating and a $167.00 target price for the company. Melius started coverage on shares of GE Vernova in a report on Monday, April 22nd. They issued a hold rating and a $147.00 price target on the stock. Finally, Redburn Atlantic started coverage on shares of GE Vernova in a research report on Tuesday, July 2nd. They issued a neutral rating and a $178.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $184.25.

GE Vernova Trading Up 8.2 %

NYSE GEV opened at $173.11 on Thursday. GE Vernova has a one year low of $115.00 and a one year high of $185.50. The firm’s 50-day simple moving average is $171.71.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Thursday, April 25th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.17). The company had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.56 billion. On average, equities research analysts expect that GE Vernova will post 3.53 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GEV. Bank of New York Mellon Corp acquired a new stake in shares of GE Vernova during the second quarter worth about $537,674,000. Price T Rowe Associates Inc. MD purchased a new position in GE Vernova during the 1st quarter worth approximately $367,474,000. Assenagon Asset Management S.A. acquired a new stake in GE Vernova during the 2nd quarter valued at approximately $217,569,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of GE Vernova in the 2nd quarter valued at $104,273,000. Finally, Steadfast Capital Management LP acquired a new stake in shares of GE Vernova in the first quarter worth $80,235,000.

GE Vernova Company Profile

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.