GE Vernova (NYSE:GEV) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

GE Vernova (NYSE:GEV - Get Free Report) had its price target lifted by research analysts at Wells Fargo & Company from $474.00 to $697.00 in a report issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price target would suggest a potential upside of 11.53% from the company's previous close.

GEV has been the topic of a number of other research reports. TD Cowen dropped their price objective on GE Vernova from $405.00 to $390.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. UBS Group began coverage on GE Vernova in a report on Monday, July 7th. They set a "buy" rating and a $614.00 price target on the stock. Wall Street Zen raised GE Vernova from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Guggenheim reissued a "buy" rating and set a $380.00 price target on shares of GE Vernova in a research note on Thursday, April 24th. Finally, Seaport Res Ptn upgraded GE Vernova to a "strong-buy" rating in a research report on Thursday, July 10th. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, GE Vernova presently has a consensus rating of "Moderate Buy" and a consensus target price of $528.67.

GE Vernova Stock Down 0.7%

Shares of GEV traded down $4.09 during trading hours on Thursday, hitting $624.94. 1,660,528 shares of the company were exchanged, compared to its average volume of 3,682,321. The firm's fifty day moving average is $502.54 and its 200 day moving average is $402.41. GE Vernova has a fifty-two week low of $150.01 and a fifty-two week high of $633.72. The company has a market cap of $170.57 billion, a price-to-earnings ratio of 90.31, a P/E/G ratio of 4.13 and a beta of 1.86.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. The firm had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.65 earnings per share. Analysts anticipate that GE Vernova will post 6.59 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GEV. Navigoe LLC acquired a new stake in shares of GE Vernova during the 4th quarter worth approximately $27,000. EQ Wealth Advisors LLC bought a new position in shares of GE Vernova in the 1st quarter worth $27,000. IMA Advisory Services Inc. bought a new position in GE Vernova during the 1st quarter valued at $27,000. Clarity Asset Management Inc. bought a new position in GE Vernova during the 4th quarter valued at $28,000. Finally, Pinpoint Asset Management Ltd bought a new position in GE Vernova during the 4th quarter valued at $30,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.