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

GE Vernova (NYSE:GEV - Get Free Report) was upgraded by equities research analysts at Bank of America from a "neutral" rating to a "buy" rating in a research note issued on Tuesday, MarketBeat Ratings reports. The brokerage currently has a $300.00 target price on the stock, up from their previous target price of $200.00. Bank of America's target price would suggest a potential upside of 25.75% from the stock's current price.

A number of other brokerages have also recently commented on GEV. Evercore ISI lifted their price target on GE Vernova from $202.00 to $240.00 and gave the stock an "outperform" rating in a research report on Thursday, September 12th. Daiwa Capital Markets initiated coverage on GE Vernova in a report on Friday, June 21st. They set an "outperform" rating and a $201.50 target price for the company. Royal Bank of Canada reiterated an "outperform" rating and issued a $180.00 price target on shares of GE Vernova in a report on Monday, July 22nd. BMO Capital Markets assumed coverage on shares of GE Vernova in a research note on Friday. They set an "outperform" rating and a $245.00 price objective for the company. Finally, Barclays began coverage on shares of GE Vernova in a report on Monday. They issued an "overweight" rating and a $250.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, GE Vernova has an average rating of "Moderate Buy" and a consensus target price of $217.64.

GE Vernova Trading Up 3.8 %

NYSE GEV traded up $8.64 on Tuesday, hitting $238.57. The stock had a trading volume of 5,141,001 shares, compared to its average volume of 3,820,258. The business has a fifty day moving average of $184.31. GE Vernova has a 52-week low of $115.00 and a 52-week high of $240.00.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share 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 3.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GE Vernova

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

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.