GE Vernova (NYSE:GEV) Stock Price Expected to Rise, Morgan Stanley Analyst Says

GE Vernova (NYSE:GEV - Get Free Report) had its price target raised by equities researchers at Morgan Stanley from $511.00 to $675.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Morgan Stanley's price target suggests a potential upside of 4.72% from the stock's previous close.

GEV has been the topic of several other reports. The Goldman Sachs Group lifted their target price on GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Seaport Res Ptn raised GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. Robert W. Baird raised their price target on GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a report on Thursday. Truist Financial set a $440.00 price target on GE Vernova in a report on Thursday, March 27th. Finally, Guggenheim reissued a "buy" rating and issued a $380.00 price target on shares of GE Vernova in a report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $540.96.

GE Vernova Price Performance

Shares of GEV stock traded up $20.63 during midday trading on Thursday, hitting $644.60. The company had a trading volume of 3,598,352 shares, compared to its average volume of 3,205,434. The company's 50 day simple moving average is $510.80 and its 200 day simple moving average is $406.08. GE Vernova has a 52-week low of $150.01 and a 52-week high of $651.22. The stock has a market cap of $175.93 billion, a price-to-earnings ratio of 155.33, a PEG ratio of 4.66 and a beta of 1.86.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%. The company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. During the same period last year, the business posted $4.65 EPS. The company's revenue was up 11.1% on a year-over-year basis. Analysts anticipate that GE Vernova will post 6.59 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Highline Wealth Partners LLC lifted its holdings in GE Vernova by 34.6% during the 2nd quarter. Highline Wealth Partners LLC now owns 70 shares of the company's stock worth $37,000 after buying an additional 18 shares during the last quarter. Raleigh Capital Management Inc. bought a new position in GE Vernova during the 2nd quarter worth approximately $37,000. Navigoe LLC bought a new position in GE Vernova during the 4th quarter worth approximately $27,000. Clarity Asset Management Inc. bought a new position in GE Vernova during the 4th quarter worth approximately $28,000. Finally, IMA Advisory Services Inc. bought a new position in GE Vernova during the 1st quarter worth approximately $27,000.

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.