GE Vernova Price Target Increased to $376.00

On November 28, 2024, Royal Bank of Canada raised its price target for GE Vernova (NYSE:GEV) from $285.00 to $376.00, according to a recent research report. The bank has given the stock an outperform rating, indicating positive sentiment towards its future performance.

Other analysts have also provided updated insights on GE Vernova. For instance, JPMorgan Chase & Co. adjusted their target price from $285.00 to $330.00, labeling the stock as overweight in their report issued on October 24. Additionally, Wells Fargo & Company recently started coverage on the company, setting a price target of $385.00 alongside an overweight rating.

Bank of America made a similar move, increasing their price target for GE Vernova from $300.00 to $320.00 while maintaining a buy rating. Evercore ISI revised their price target up from $300.00 to $323.00, also stating an outperform rating. Furthermore, Guggenheim initiated coverage with a $300.00 price target and a buy rating.

Overall, Seven equity research analysts have rated GE Vernova with a hold rating, while eighteen have assigned buy ratings, and one has given it a strong buy rating. According to MarketBeat.com, the average consensus rating for the stock is a Moderate Buy, with an average price target set at $274.16.

Price Movement and Technical Analysis

On the trading day following the report, GE Vernova's shares opened at $335.35. The company has shown significant volatility in the past year with a low of $115.00 and a high of $357.09. Its 50-day moving average stands at $292.35, while the 200-day moving average is at $218.58.

Institutional Shareholding Trends

Recently, several large investors adjusted their positions in GE Vernova. Pittenger & Anderson Inc. increased its stake by 28.0% in the third quarter, now holding 160 shares valued at $41,000. SteelPeak Wealth LLC also raised its holdings by 2.5%, owning 1,569 shares worth $400,000.

Global Retirement Partners LLC and Whittier Trust Co. both grew their respective holdings by 0.9% and 1.9%, owning shares worth $1,149,000 and $537,000. Furthermore, Dunhill Financial LLC increased its stake by 21.6%, now holding 225 shares valued at $57,000.

About GE Vernova

GE Vernova LLC is an energy company involved in electricity generation. It operates across three primary segments: Power, Wind, and Electrification. The Power segment is responsible for generating and selling electricity using hydro, gas, nuclear, and steam power sources. The Wind segment focuses on manufacturing and selling wind turbine blades, while the Electrification segment provides grid solutions, power conversion, solar solutions, and storage options.

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