GE Vernova (NYSE:GEV) Rating Increased to Buy at Bank of America

GE Vernova (NYSE:GEV) was upgraded by equities researchers 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 prior target price of $200.00. Bank of America‘s price objective suggests a potential upside of 30.47% from the stock’s current price.

Several other equities analysts have also recently weighed in on GEV. Evercore ISI raised their price target on GE Vernova from $202.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. The Goldman Sachs Group raised their target price on shares of GE Vernova from $196.00 to $220.00 and gave the company a “buy” rating in a report on Friday, July 26th. JPMorgan Chase & Co. upped their price target on shares of GE Vernova from $216.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday. Barclays initiated coverage on shares of GE Vernova in a research note on Monday. They issued an “overweight” rating and a $250.00 price objective for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $180.00 price objective on shares of GE Vernova in a research note on Monday, July 22nd. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $213.97.

GE Vernova Trading Up 1.9 %

GE Vernova stock opened at $229.93 on Tuesday. The firm’s 50 day moving average is $183.00. GE Vernova has a 1 year low of $115.00 and a 1 year high of $231.51.

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 analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.42 billion. As a group, analysts anticipate that GE Vernova will post 3.02 earnings per share for the current fiscal year.

Institutional Trading of GE Vernova

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Aspire Private Capital LLC bought a new position in shares of GE Vernova in the second quarter worth about $40,000. GAMMA Investing LLC bought a new position in GE Vernova in the 2nd quarter worth about $776,000. Sequoia Financial Advisors LLC purchased a new position in shares of GE Vernova during the second quarter worth approximately $2,724,000. Parsons Capital Management Inc. RI bought a new stake in shares of GE Vernova during the second quarter valued at approximately $275,000. Finally, Armstrong Henry H Associates Inc. purchased a new stake in shares of GE Vernova in the second quarter valued at approximately $523,000.

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.