BMO Capital Markets Forecasts Strong Price Appreciation for GE Vernova (NYSE:GEV) Stock

GE Vernova (NYSE:GEV - Get Free Report) had its price objective lifted by equities researchers at BMO Capital Markets from $381.00 to $522.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an "outperform" rating on the stock. BMO Capital Markets' price target points to a potential upside of 10.70% from the company's previous close.

Several other research analysts also recently weighed in on the stock. CICC Research began coverage on shares of GE Vernova in a research report on Wednesday, February 19th. They issued an "outperform" rating on the stock. Guggenheim reiterated a "buy" rating and issued a $380.00 target price on shares of GE Vernova in a research note on Thursday, April 24th. TD Cowen reduced their target price on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. New Street Research set a $380.00 price objective on shares of GE Vernova in a research note on Wednesday, March 5th. Finally, Barclays boosted their target price on shares of GE Vernova from $427.00 to $500.00 and gave the stock an "overweight" rating in a research report on Friday. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova has an average rating of "Moderate Buy" and a consensus target price of $385.78.

GE Vernova Stock Up 0.1%

GE Vernova stock traded up $0.39 during trading hours on Friday, hitting $471.56. 5,090,753 shares of the company traded hands, compared to its average volume of 3,348,350. The firm has a market cap of $128.71 billion and a P/E ratio of 84.81. The firm's 50-day simple moving average is $371.84 and its two-hundred day simple moving average is $355.59. GE Vernova has a 1-year low of $150.01 and a 1-year high of $489.13.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.54. The company had revenue of $8.03 billion for the quarter, compared to analysts' expectations of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business's revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.47) EPS. On average, equities research analysts predict that GE Vernova will post 6.59 earnings per share for the current year.

Institutional Investors Weigh In On GE Vernova

A number of hedge funds have recently made changes to their positions in GEV. Norges Bank acquired a new stake in GE Vernova in the 4th quarter valued at about $1,109,720,000. Capital International Investors grew its holdings in GE Vernova by 25.3% during the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after purchasing an additional 2,994,660 shares during the period. GAMMA Investing LLC grew its holdings in GE Vernova by 32,984.2% during the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock valued at $653,769,000 after purchasing an additional 2,135,066 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in GE Vernova by 1,638.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company's stock valued at $432,309,000 after purchasing an additional 1,238,690 shares during the period. Finally, AQR Capital Management LLC lifted its stake in GE Vernova by 252.9% in the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company's stock valued at $366,016,000 after buying an additional 892,549 shares in the last quarter.

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.