Melius Initiates Coverage on GE Vernova (NYSE:GEV)

Stock analysts at Melius started coverage on shares of GE Vernova (NYSE:GEV) in a note issued to investors on Monday, MarketBeat Ratings reports. The brokerage set a “hold” rating and a $147.00 price target on the stock. Melius’ price objective points to a potential downside of 0.55% from the stock’s previous close.

A number of other equities research analysts have also recently commented on GEV. Raymond James initiated coverage on shares of GE Vernova in a report on Wednesday, April 17th. They issued an “outperform” rating and a $160.00 price target on the stock. JPMorgan Chase & Co. raised shares of GE Vernova from a “neutral” rating to an “overweight” rating and set a $141.00 target price on the stock in a report on Monday, April 8th. Evercore ISI began coverage on shares of GE Vernova in a report on Thursday, April 18th. They issued an “outperform” rating and a $174.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and set a $160.00 price target on shares of GE Vernova in a research report on Friday, April 12th. Finally, BNP Paribas assumed coverage on GE Vernova in a research report on Wednesday, April 17th. They issued an “outperform” rating and a $177.00 price objective on the stock. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average price target of $158.38.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $147.82 on Monday. GE Vernova has a 1 year low of $115.00 and a 1 year high of $152.48.

Institutional Investors Weigh In On GE Vernova

Hedge funds have recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of GE Vernova during the 1st quarter valued at about $478,000. Anderson Hoagland & Co. bought a new position in GE Vernova during the first quarter valued at approximately $1,720,000. Finally, Maryland State Retirement & Pension System purchased a new position in shares of GE Vernova during the first quarter worth approximately $2,892,000.

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.