Morgan Stanley Forecasts Strong Price Appreciation for GE Vernova (NYSE:GEV) Stock

Key Points

• Morgan Stanley raised its price target on GE Vernova to $960 (from $817) and kept an "overweight" rating, implying roughly a 7.3% upside from the stock's recent close near $895.
• GE Vernova reported a huge quarterly EPS beat ($13.39 vs. $2.99 est.) and revenue above expectations, and the stock is trading near its 52‑week high with broad analyst support (majority Buy; average target $837.25), though valuation metrics show a P/E around 50.

GE Vernova (NYSE:GEV - Get Free Report) had its price objective raised by equities researchers at Morgan Stanley from $817.00 to $960.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Morgan Stanley's price target suggests a potential upside of 7.25% from the company's previous close.

GEV has been the topic of a number of other reports. Wall Street Zen raised shares of GE Vernova from a "hold" rating to a "buy" rating in a research note on Saturday, January 31st. William Blair restated an "outperform" rating on shares of GE Vernova in a research report on Wednesday, December 10th. Barclays reiterated an "overweight" rating and set a $849.00 price objective on shares of GE Vernova in a research report on Monday, February 2nd. The Goldman Sachs Group boosted their target price on shares of GE Vernova from $840.00 to $925.00 and gave the company a "buy" rating in a research note on Thursday, January 29th. Finally, Glj Research raised their price target on shares of GE Vernova from $758.00 to $1,087.00 and gave the stock a "buy" rating in a research note on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $837.25.

GE Vernova Stock Performance

GE Vernova stock traded up $44.04 during trading hours on Monday, reaching $895.11. 2,416,392 shares of the stock were exchanged, compared to its average volume of 2,882,080. The stock has a market cap of $241.26 billion, a P/E ratio of 50.16, a P/E/G ratio of 3.39 and a beta of 1.44. The firm's 50 day moving average is $779.34 and its 200 day moving average is $672.80. GE Vernova has a 52-week low of $252.25 and a 52-week high of $920.63.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.99 by $10.40. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The business had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $10.21 billion. During the same period in the prior year, the business posted $1.73 EPS. The company's revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts expect that GE Vernova will post 6.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. RFG Advisory LLC increased its position in shares of GE Vernova by 2.1% during the fourth quarter. RFG Advisory LLC now owns 634 shares of the company's stock worth $414,000 after acquiring an additional 13 shares during the last quarter. BlackDiamond Wealth Management LLC boosted its holdings in GE Vernova by 2.8% in the fourth quarter. BlackDiamond Wealth Management LLC now owns 471 shares of the company's stock valued at $308,000 after purchasing an additional 13 shares during the last quarter. First Commonwealth Financial Corp PA grew its stake in GE Vernova by 3.5% during the 4th quarter. First Commonwealth Financial Corp PA now owns 380 shares of the company's stock valued at $248,000 after purchasing an additional 13 shares in the last quarter. Apriem Advisors increased its holdings in GE Vernova by 0.7% during the 4th quarter. Apriem Advisors now owns 2,124 shares of the company's stock worth $1,388,000 after purchasing an additional 14 shares during the last quarter. Finally, Voisard Asset Management Group Inc. increased its holdings in GE Vernova by 2.7% during the 4th quarter. Voisard Asset Management Group Inc. now owns 575 shares of the company's stock worth $376,000 after purchasing an additional 15 shares during the last quarter.

GE Vernova Company Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.

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