GE Vernova (NYSE:GEV) Raised to “Buy” at Bank of America

Bank of America upgraded shares of GE Vernova (NYSE:GEV) from a neutral rating to a buy rating in a research report sent to investors on Tuesday, Marketbeat reports. Bank of America currently has $300.00 price target on the stock, up from their prior price target of $200.00.

GEV has been the subject of several other research reports. Hsbc Global Res raised GE Vernova to a strong-buy rating in a research report on Monday, August 12th. Royal Bank of Canada reissued an outperform rating and issued a $180.00 target price on shares of GE Vernova in a research note on Monday, July 22nd. Morgan Stanley raised their price target on shares of GE Vernova from $220.00 to $256.00 and gave the stock an overweight rating in a research note on Friday, September 13th. Jefferies Financial Group started coverage on shares of GE Vernova in a research report on Wednesday, September 4th. They issued a buy rating and a $261.00 price objective for the company. Finally, Daiwa Capital Markets started coverage on shares of GE Vernova in a research report on Friday, June 21st. They set an outperform rating and a $201.50 target price on the stock. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $217.64.

GE Vernova Trading Up 3.7 %

GEV opened at $244.45 on Tuesday. GE Vernova has a one year low of $115.00 and a one year high of $245.00. The business’s fifty day moving average price is $186.78.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. The business had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.42 billion. On average, equities analysts anticipate that GE Vernova will post 3.02 earnings per share for the current year.

Institutional Trading of GE Vernova

Institutional investors and hedge funds have recently bought and sold shares of the business. KP Management LLC purchased a new position in GE Vernova in the second quarter valued at about $707,000. Newbridge Financial Services Group Inc. purchased a new position in GE Vernova in the 2nd quarter worth approximately $76,000. SS&H Financial Advisors Inc. purchased a new stake in shares of GE Vernova during the second quarter valued at approximately $641,000. Prio Wealth Limited Partnership acquired a new position in shares of GE Vernova during the second quarter worth $1,223,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of GE Vernova in the second quarter valued at $3,025,000.

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.