GE Vernova (NYSE:GEV) Given New $715.00 Price Target at JPMorgan Chase & Co.

GE Vernova (NYSE:GEV - Get Free Report) had its price target raised by investment analysts at JPMorgan Chase & Co. from $620.00 to $715.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 15.03% from the company's current price.

Other analysts have also recently issued reports about the company. Susquehanna restated a "positive" rating and issued a $499.00 price target (up from $399.00) on shares of GE Vernova in a research note on Wednesday, May 14th. The Goldman Sachs Group raised their price target on GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Jefferies Financial Group lowered GE Vernova from a "buy" rating to a "hold" rating and lifted their price objective for the company from $427.00 to $517.00 in a report on Thursday, May 29th. Guggenheim reaffirmed a "buy" rating and issued a $380.00 price objective on shares of GE Vernova in a report on Thursday, April 24th. Finally, Truist Financial set a $440.00 price objective on shares of GE Vernova in a research note on Thursday, March 27th. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, GE Vernova presently has an average rating of "Moderate Buy" and an average target price of $528.67.

GE Vernova Price Performance

Shares of NYSE:GEV traded down $7.45 during trading on Thursday, hitting $621.58. The company had a trading volume of 1,847,303 shares, compared to its average volume of 3,683,441. The stock has a market cap of $169.65 billion, a price-to-earnings ratio of 89.49, a price-to-earnings-growth ratio of 4.13 and a beta of 1.86. GE Vernova has a one year low of $150.01 and a one year high of $633.72. The company has a fifty day simple moving average of $502.54 and a two-hundred day simple moving average of $402.41.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.23. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The firm had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. During the same period in the previous year, the business earned $4.65 EPS. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities research analysts anticipate that GE Vernova will post 6.59 earnings per share for the current year.

Institutional Trading of GE Vernova

Hedge funds have recently modified their holdings of the stock. Navigoe LLC bought a new stake in GE Vernova during the 4th quarter valued at $27,000. EQ Wealth Advisors LLC bought a new stake in shares of GE Vernova during the first quarter valued at about $27,000. IMA Advisory Services Inc. purchased a new stake in GE Vernova in the first quarter valued at approximately $27,000. Clarity Asset Management Inc. purchased a new stake in GE Vernova in the fourth quarter valued at approximately $28,000. Finally, Pinpoint Asset Management Ltd purchased a new position in shares of GE Vernova during the fourth quarter worth approximately $30,000.

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.

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