Morgan Stanley has raised its price target on GE Vernova (NYSE: GEV) from $1,250 to $1,350, maintaining an Overweight rating on the energy technology company’s stock.
The revised target implies a potential upside of 30.51% from the company’s previous closing price, signaling strong confidence from one of Wall Street’s most closely watched research desks.
Morgan Stanley was not alone in its bullishness, as several other major institutions also moved their price targets higher in recent sessions.
RBC Capital raised its target on GE Vernova to $1,225 from $1,195, while keeping an Outperform rating on the shares.
Oppenheimer lifted its price target from $1,303 to $1,338, also assigning the company an Outperform rating as part of its updated research coverage.
Guggenheim went further, raising its target from $1,300 to $1,450 and assigning GE Vernova a Buy rating, one of the more aggressive calls among recent analyst updates.
The wave of upgrades followed GE Vernova’s latest quarterly earnings report, released on July 22, which delivered a mixed but broadly encouraging set of results for investors to digest.
The company reported earnings per share of $2.47 for the quarter, falling short of the consensus analyst estimate of $3.17 by $0.70, a notable miss on the bottom line.
Revenue, however, came in ahead of expectations at $11.10 billion, beating analyst estimates of $10.79 billion and representing a 21.9% increase compared to the same quarter in the prior year.
GE Vernova posted a return on equity of 43.97% and a net margin of 23.81%, reflecting strong underlying profitability despite the earnings-per-share shortfall.
The company earned $1.86 earnings per share during the same period in the previous year, highlighting the significant year-over-year growth trajectory the business has maintained.
Analysts on average expect GE Vernova to post earnings per share of $15.06 for the current fiscal year, pointing to continued momentum through the remainder of the year.
Across the broader analyst community, the stock holds a consensus rating of Moderate Buy, with two Strong Buy ratings, twenty-three Buy ratings, and five Hold ratings currently on record.
According to MarketBeat, GE Vernova carries an average analyst price target of $1,124.12, though several of the most recent revisions have pushed well above that figure.
