GE Vernova’s (GEV) “Overweight” Rating Reiterated at Morgan Stanley

Morgan Stanley restated their overweight rating on shares of GE Vernova (NYSE:GEV) in a report published on Monday morning, Benzinga reports. Morgan Stanley currently has a $220.00 target price on the stock.

Other equities analysts also recently issued reports about the company. Citigroup assumed coverage on GE Vernova in a research note on Tuesday, June 11th. They issued a neutral rating and a $183.00 price objective for the company. Hsbc Global Res raised GE Vernova to a strong-buy rating in a research note on Monday, August 12th. Daiwa America upgraded shares of GE Vernova to a strong-buy rating in a research report on Friday, June 21st. HSBC began coverage on shares of GE Vernova in a report on Monday, August 12th. They set a buy rating and a $215.00 target price for the company. Finally, Royal Bank of Canada reissued an outperform rating and set a $180.00 price target on shares of GE Vernova in a research report on Monday, July 22nd. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, GE Vernova presently has an average rating of Moderate Buy and an average target price of $189.83.

GE Vernova Price Performance

NYSE GEV opened at $192.01 on Monday. GE Vernova has a 52-week low of $115.00 and a 52-week high of $195.68. The business’s 50-day moving average price is $175.13.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. The company had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.42 billion. As a group, sell-side analysts predict that GE Vernova will post 3.43 EPS for the current fiscal year.

Hedge Funds Weigh In On GE Vernova

A number of large investors have recently bought and sold shares of the stock. Newport Trust Company LLC acquired a new position in shares of GE Vernova in the 2nd quarter valued at about $650,140,000. Bank of New York Mellon Corp acquired a new stake in shares of GE Vernova during the second quarter worth approximately $537,674,000. Price T Rowe Associates Inc. MD bought a new stake in shares of GE Vernova in the 1st quarter worth about $367,474,000. Marshall Wace LLP bought a new position in GE Vernova during the 2nd quarter worth approximately $399,770,000. Finally, Legal & General Group Plc acquired a new position in shares of GE Vernova in the 2nd quarter worth approximately $293,699,000.

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.