Guggenheim Begins Coverage on GE Vernova (NYSE:GEV)

Guggenheim started coverage on shares of GE Vernova (NYSE:GEV) in a research note issued to investors on Tuesday morning, Marketbeat reports. The brokerage issued a buy rating and a $300.00 price target on the stock.

Other equities analysts also recently issued reports about the stock. William Blair initiated coverage on shares of GE Vernova in a research report on Thursday, August 29th. They set an outperform rating on the stock. Royal Bank of Canada increased their target price on shares of GE Vernova from $192.00 to $246.00 and gave the stock an outperform rating in a research report on Tuesday, September 17th. The Goldman Sachs Group increased their target price on shares of GE Vernova from $196.00 to $220.00 and gave the stock a buy rating in a research report on Friday, July 26th. JPMorgan Chase & Co. increased their target price on shares of GE Vernova from $216.00 to $240.00 and gave the stock an overweight rating in a research report on Friday, September 13th. Finally, Bank of America raised shares of GE Vernova from a neutral rating to a buy rating and increased their target price for the stock from $200.00 to $300.00 in a research report on Tuesday, September 17th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $227.48.

GE Vernova Stock Performance

NYSE GEV opened at $251.22 on Tuesday. GE Vernova has a 1-year low of $115.00 and a 1-year high of $258.64. The stock has a fifty day moving average of $192.81.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.42 billion. On average, sell-side analysts predict that GE Vernova will post 2.83 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Deseret Mutual Benefit Administrators bought a new position in shares of GE Vernova in the second quarter valued at approximately $25,000. Trifecta Capital Advisors LLC bought a new position in shares of GE Vernova in the second quarter valued at approximately $25,000. Meeder Asset Management Inc. bought a new position in shares of GE Vernova in the second quarter valued at approximately $25,000. Global Trust Asset Management LLC bought a new position in shares of GE Vernova in the second quarter valued at approximately $26,000. Finally, Gradient Investments LLC bought a new position in shares of GE Vernova in the second quarter valued at approximately $27,000.

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.