GE Vernova (NYSE:GEV) Raised to Strong-Buy at Glj Research

GE Vernova (NYSE:GEV) was upgraded by equities researchers at Glj Research to a “strong-buy” rating in a research note issued to investors on Monday, Marketbeat Ratings reports. The firm presently has a $702.00 price target on the stock. Glj Research’s price objective points to a potential upside of 37.21% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $422.00 price target (up from $400.00) on shares of GE Vernova in a report on Thursday, April 24th. JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $430.00 to $460.00 and gave the company an “overweight” rating in a report on Friday, May 16th. TD Cowen decreased their price target on shares of GE Vernova from $405.00 to $390.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. New Street Research set a $380.00 price target on shares of GE Vernova in a report on Wednesday, March 5th. Finally, Royal Bank Of Canada decreased their price target on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. Eight analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $429.13.

GE Vernova Stock Up 2.3%

GEV stock opened at $511.61 on Monday. The firm has a market cap of $139.63 billion, a P/E ratio of 73.72, a P/E/G ratio of 3.88 and a beta of 1.97. The company’s 50-day moving average price is $432.77 and its two-hundred day moving average price is $373.10. GE Vernova has a 12 month low of $150.01 and a 12 month high of $512.82.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.54. The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The firm’s revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.47) EPS. Equities analysts predict that GE Vernova will post 6.59 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GEV. MRP Capital Investments LLC acquired a new position in shares of GE Vernova during the 4th quarter valued at $25,000. Fairway Wealth LLC lifted its position in shares of GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after acquiring an additional 55 shares during the period. Navigoe LLC acquired a new position in shares of GE Vernova during the 4th quarter valued at $27,000. EQ Wealth Advisors LLC acquired a new position in shares of GE Vernova during the 1st quarter valued at $27,000. Finally, IMA Advisory Services Inc. acquired a new position in shares of GE Vernova during the 1st quarter valued at $27,000.

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.