GE Vernova (NYSE:GEV) Price Target Raised to $620.00 at JPMorgan Chase & Co.

GE Vernova (NYSE:GEV - Get Free Report) had its price target raised by research analysts at JPMorgan Chase & Co. from $460.00 to $620.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 7.82% from the company's current price.

Several other equities research analysts have also recently issued reports on the stock. Jefferies Financial Group cut shares of 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 research report on Thursday, May 29th. Susquehanna reiterated a "positive" rating and set a $499.00 price objective (up previously from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. Robert W. Baird lifted their price objective on shares of GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. The Goldman Sachs Group lifted their price objective on shares of GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Finally, Barclays lifted their price objective on shares of GE Vernova from $550.00 to $580.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Seven investment 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 company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $468.88.

GE Vernova Trading Up 0.9%

NYSE GEV traded up $4.85 on Wednesday, reaching $575.02. 2,051,713 shares of the stock were exchanged, compared to its average volume of 3,299,435. GE Vernova has a one year low of $150.01 and a one year high of $581.27. The firm has a market capitalization of $156.94 billion, a PE ratio of 155.30, a PEG ratio of 4.33 and a beta of 1.86. The company's 50-day simple moving average is $493.30 and its two-hundred day simple moving average is $397.42.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.54. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The company had revenue of $8.03 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter last year, the business earned ($0.47) EPS. The firm's revenue was up 10.6% compared to the same quarter last year. Sell-side analysts forecast that GE Vernova will post 6.59 earnings per share for the current fiscal year.

Institutional Trading of GE Vernova

A number of large investors have recently made changes to their positions in the stock. Montgomery Investment Management Inc. purchased a new stake in shares of GE Vernova during the second quarter valued at $291,000. Warren Street Wealth Advisors LLC purchased a new stake in shares of GE Vernova during the second quarter valued at $203,000. Vicus Capital purchased a new stake in shares of GE Vernova during the second quarter valued at $233,000. Pure Financial Advisors LLC purchased a new stake in shares of GE Vernova during the second quarter valued at $367,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of GE Vernova by 246.3% in the second quarter. Robeco Institutional Asset Management B.V. now owns 301,706 shares of the company's stock valued at $159,648,000 after acquiring an additional 214,571 shares in the last quarter.

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.