GE Vernova (NYSE:GEV) Upgraded to “Strong-Buy” by Daiwa America

Daiwa America upgraded shares of GE Vernova (NYSE:GEV) to a strong-buy rating in a research report sent to investors on Friday, Zacks.com reports.

GEV has been the topic of a number of other reports. Melius assumed coverage on shares of GE Vernova in a report on Monday, April 22nd. They issued a hold rating and a $147.00 target price on the stock. JPMorgan Chase & Co. boosted their price objective on GE Vernova from $176.00 to $186.00 and gave the stock an overweight rating in a research note on Monday, June 3rd. Citigroup initiated coverage on GE Vernova in a research report on Tuesday, June 11th. They set a neutral rating and a $183.00 price objective on the stock. Mizuho lifted their target price on GE Vernova from $154.00 to $164.00 and gave the stock a buy rating in a report on Wednesday, May 1st. Finally, Daiwa Capital Markets began coverage on GE Vernova in a research report on Friday. They set an outperform rating and a $201.50 target price on the stock. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, GE Vernova has an average rating of Moderate Buy and an average target price of $171.81.

GE Vernova Price Performance

NYSE GEV opened at $175.73 on Friday. GE Vernova has a 1-year low of $115.00 and a 1-year high of $185.50. The company’s 50 day moving average price is $162.29.

GE Vernova (NYSE:GEV) last posted its earnings results on Thursday, April 25th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.17). The company had revenue of $7.26 billion for the quarter, compared to analysts’ expectations of $7.56 billion. As a group, research analysts forecast that GE Vernova will post 3.02 EPS for the current fiscal year.

Institutional Trading of GE Vernova

A number of large investors have recently made changes to their positions in GEV. Anderson Hoagland & Co. purchased a new position in shares of GE Vernova during the first quarter worth approximately $1,720,000. Maryland State Retirement & Pension System purchased a new position in GE Vernova during the 1st quarter worth $2,892,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in GE Vernova during the 1st quarter valued at $478,000. Valeo Financial Advisors LLC bought a new stake in GE Vernova during the 1st quarter valued at $673,000. Finally, Boit C F David purchased a new stake in shares of GE Vernova in the 1st quarter worth $149,000.

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.