Royal Bank of Canada Issues Positive Forecast for GE Vernova (NYSE:GEV) Stock Price

GE Vernova (NYSE:GEV) had its price objective boosted by research analysts at Royal Bank of Canada from $285.00 to $376.00 in a research note issued to investors on Monday,Briefing.com Automated Import reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 9.59% from the stock’s current price.

Several other research analysts also recently commented on the company. Bank of America lifted their price target on GE Vernova from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Oppenheimer started coverage on shares of GE Vernova in a report on Thursday, September 26th. They issued a “market perform” rating for the company. Evercore ISI upped their price objective on shares of GE Vernova from $300.00 to $323.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. BMO Capital Markets lifted their target price on GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Wells Fargo & Company initiated coverage on GE Vernova in a report on Thursday. They issued an “overweight” rating and a $385.00 price target for the company. Seven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $274.16.

GE Vernova Stock Performance

GEV traded down $6.06 during trading on Monday, hitting $343.10. The stock had a trading volume of 329,982 shares, compared to its average volume of 3,472,467. GE Vernova has a 12 month low of $115.00 and a 12 month high of $357.09. The company has a 50 day simple moving average of $286.37 and a 200-day simple moving average of $215.41.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GEV. World Investment Advisors LLC boosted its position in GE Vernova by 41.4% in the 3rd quarter. World Investment Advisors LLC now owns 2,876 shares of the company’s stock valued at $733,000 after buying an additional 842 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in shares of GE Vernova by 24.6% during the third quarter. Sanctuary Advisors LLC now owns 21,969 shares of the company’s stock valued at $5,602,000 after acquiring an additional 4,333 shares during the period. Fulcrum Equity Management bought a new position in GE Vernova in the third quarter valued at about $218,000. Westside Investment Management Inc. increased its position in GE Vernova by 24.0% in the third quarter. Westside Investment Management Inc. now owns 362 shares of the company’s stock worth $92,000 after purchasing an additional 70 shares during the period. Finally, Virtu Financial LLC bought a new stake in GE Vernova during the 3rd quarter worth about $1,481,000.

About GE Vernova

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.