GE Vernova (NYSE:GEV) Given New $740.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. raised the price target for GE Vernova from $715.00 to $740.00, reflecting a potential upside of 24.77% from its previous close and maintaining an "overweight" rating on the stock.
• GE Vernova's stock traded up 3.0% to $593.09, with a 52-week range between $252.25 and $677.29, and the company reported quarterly earnings of $1.64 per share, slightly missing analysts' expectations.
• Overall, the stock has an average rating of "Moderate Buy" with ongoing interest from both institutional investors and analysts, indicating diverse opinions on its performance moving forward.

GE Vernova (NYSE:GEV - Get Free Report) had its price objective hoisted by equities research analysts at JPMorgan Chase & Co. from $715.00 to $740.00 in a report released on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 24.77% from the company's previous close.

Several other research analysts have also issued reports on GEV. Melius Research set a $740.00 price objective on GE Vernova and gave the stock a "buy" rating in a research note on Monday, September 15th. Susquehanna boosted their price target on shares of GE Vernova from $740.00 to $750.00 and gave the company a "positive" rating in a research report on Thursday. Rothschild & Co Redburn reaffirmed a "sell" rating and set a $475.00 price objective on shares of GE Vernova in a report on Wednesday, October 15th. HSBC lifted their target price on shares of GE Vernova from $570.00 to $580.00 and gave the company a "hold" rating in a research note on Friday, September 5th. Finally, Guggenheim cut GE Vernova from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $603.93.

GE Vernova Stock Up 3.0%

NYSE GEV traded up $17.09 during trading on Thursday, hitting $593.09. The company's stock had a trading volume of 1,761,878 shares, compared to its average volume of 3,415,959. GE Vernova has a 52 week low of $252.25 and a 52 week high of $677.29. The firm has a market cap of $161.45 billion, a P/E ratio of 142.92, a price-to-earnings-growth ratio of 4.24 and a beta of 1.72. The firm has a 50 day moving average price of $612.65 and a 200 day moving average price of $525.17.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The company had revenue of $9.97 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same quarter in the prior year, the business earned ($0.35) earnings per share. The business's revenue for the quarter was up 11.8% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts expect that GE Vernova will post 6.59 earnings per share for the current year.

Insider Activity at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the business's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the transaction, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.15% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GE Vernova

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. IMA Advisory Services Inc. acquired a new stake in GE Vernova in the 1st quarter valued at approximately $27,000. WFA Asset Management Corp bought a new stake in shares of GE Vernova in the second quarter worth $29,000. Mowery & Schoenfeld Wealth Management LLC boosted its holdings in GE Vernova by 115.2% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock worth $30,000 after purchasing an additional 53 shares during the last quarter. 1248 Management LLC bought a new stake in GE Vernova during the 1st quarter worth about $31,000. Finally, Howard Hughes Medical Institute acquired a new position in shares of GE Vernova during the 2nd quarter worth about $31,000.

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.

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