GE Vernova (NYSE:GEV) Upgraded to “Buy” by Bank of America

by · The Markets Daily

Bank of America upgraded shares of GE Vernova (NYSE:GEV – Free Report) from a neutral rating to a buy rating in a research note published on Tuesday, MarketBeat.com reports. They currently have $300.00 price target on the stock, up from their prior price target of $200.00.

Other analysts have also issued reports about the company. Citigroup initiated coverage on GE Vernova in a report on Tuesday, June 11th. They issued a neutral rating and a $183.00 price objective for the company. Argus assumed coverage on GE Vernova in a research report on Thursday, June 13th. They set a buy rating and a $190.00 price target on the stock. HSBC assumed coverage on shares of GE Vernova in a report on Monday, August 12th. They issued a buy rating and a $215.00 price objective for the company. Mizuho increased their target price on shares of GE Vernova from $186.00 to $208.00 and gave the stock an outperform rating in a report on Friday, July 26th. Finally, Daiwa America raised shares of GE Vernova to a strong-buy rating in a report on Friday, June 21st. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $217.64.

Read Our Latest Stock Analysis on GE Vernova

GE Vernova Price Performance

GE Vernova stock opened at $244.45 on Tuesday. GE Vernova has a 52 week low of $115.00 and a 52 week high of $245.00. The firm’s 50 day simple moving average is $186.78.

GE Vernova (NYSE:GEV – Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.42 billion. As a group, analysts forecast that GE Vernova will post 3.02 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GEV. Anderson Hoagland & Co. bought a new stake in shares of GE Vernova during the first quarter valued at about $1,720,000. Maryland State Retirement & Pension System bought a new stake in shares of GE Vernova during the 1st quarter worth about $2,892,000. Valeo Financial Advisors LLC acquired a new stake in shares of GE Vernova in the 1st quarter worth approximately $673,000. Boit C F David bought a new position in shares of GE Vernova in the first quarter valued at approximately $149,000. Finally, ANTIPODES PARTNERS Ltd acquired a new position in shares of GE Vernova during the first quarter valued at approximately $30,000.

About GE Vernova

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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.

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