Truist Financial Boosts Price Target for GE Vernova Stock

Truist Financial recently elevated its price target for GE Vernova (NYSE:GEV) from $325.00 to $400.00. This update was disclosed in a research report released to clients on Tuesday. Truist has assigned a "buy" rating for the stock, indicating confidence in the company's potential for growth.

Research Analyst Insights

The new target price suggests a potential upside of approximately 23.30% based on GE Vernova’s current trading price. This revision reflects the bullish outlook that analysts have concerning the stock, as the company operates within the energy sector, which is seeing increasing interest.

Other research groups have also shared their thoughts on GE Vernova. For instance, HSBC reiterated a "hold" rating while raising its target price to $255.00, up from $240.00, in a report dated October 4. Jefferies Financial Group adjusted its target from $293.00 to $336.00 while maintaining a "buy" rating as of October 18. Morgan Stanley also raised its target, moving it from $301.00 to $367.00 with an "overweight" rating reported on November 15. Additionally, Bank of America increased its price target from $300.00 to $320.00, continuing to endorse a "buy" rating.

According to information from MarketBeat, GE Vernova has received a mixed bag of ratings from seven analysts as of now, with a combination of hold and strong buy endorsements. The current consensus rating for the stock stands at "Moderate Buy," with an average target price of $304.73.

Recent Trading Activity

On the trading floor, GE Vernova shares saw a dip of 3.2%, closing at $324.41 on the latest trading day. The trading volume recorded was 1,048,132 shares, which is lower than its average daily volume of 3,420,866 shares. The stock has seen a 52-week range with a low of $115.00 and a high of $357.09, showing substantial volatility. Presently, its 50-day moving average is at $306.45, while the 200-day moving average is at $228.84.

Institutional Investor Interest

Interest from institutional investors has been notable, with several hedge funds adjusting their positions in GE Vernova. Dynamic Advisor Solutions LLC was reported to have acquired shares valued at around $817,000 in the second quarter. Other notable purchases include Wealth Enhancement Advisory Services, which invested approximately $20,035,000, indicating growing institutional confidence in the stock's trajectory.

About GE Vernova

GE Vernova LLC is an energy company focused chiefly on electricity generation. It operates across three principal segments: Power, Wind, and Electrification. The Power segment is responsible for generating and selling electricity through various sources, including hydro, gas, nuclear, and steam power. The Wind segment focuses on the manufacturing and sale of wind turbine blades, while the Electrification segment provides solutions for grid management, power conversion, solar energy, and energy storage systems.

Truist, Forecast, GEV