Argus Begins Coverage on GE Vernova (NYSE:GEV)

Investment analysts at Argus initiated coverage on shares of GE Vernova (NYSE:GEV) in a report released on Thursday, MarketBeat reports. The brokerage set a “buy” rating and a $190.00 price target on the stock. Argus’ target price would indicate a potential upside of 11.65% from the company’s current price.

Several other research analysts have also weighed in on the company. JPMorgan Chase & Co. upped their target price on GE Vernova from $176.00 to $186.00 and gave the stock an “overweight” rating in a research report on Monday, June 3rd. Melius began coverage on GE Vernova in a research report on Monday, April 22nd. They issued a “hold” rating and a $147.00 target price on the stock. Citigroup started coverage on GE Vernova in a research report on Tuesday. They issued a “neutral” rating and a $183.00 target price on the stock. BNP Paribas started coverage on GE Vernova in a report on Wednesday, April 17th. They set an “outperform” rating and a $177.00 price objective on the stock. Finally, Royal Bank of Canada increased their price objective on GE Vernova from $160.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, May 30th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $169.33.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $170.18 on Thursday. The business has a 50-day simple moving average of $158.09. GE Vernova has a 1 year low of $115.00 and a 1 year high of $182.78.

GE Vernova (NYSE:GEV) last issued its earnings results on Thursday, April 25th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.17). The business had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.56 billion. On average, research analysts forecast that GE Vernova will post 3.02 earnings per share for the current year.

Institutional Trading of GE Vernova

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC acquired a new stake in GE Vernova in the 1st quarter valued at approximately $165,000. Cacti Asset Management LLC acquired a new stake in GE Vernova in the 1st quarter valued at approximately $798,000. Spear Holdings RSC Ltd acquired a new stake in GE Vernova in the 1st quarter valued at approximately $8,615,000. LRI Investments LLC acquired a new stake in GE Vernova in the 1st quarter valued at approximately $63,000. Finally, Kozak & Associates Inc. bought a new stake in shares of GE Vernova in the 1st quarter worth approximately $115,000.

GE Vernova Company Profile

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.