GE Vernova (NYSE:GEV) Rating Reiterated by Royal Bank of Canada

GE Vernova (NYSE:GEV)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Royal Bank of Canada in a research report issued on Monday, Benzinga reports. They presently have a $180.00 target price on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 5.51% from the company’s previous close.

Several other analysts have also recently commented on the company. Daiwa America upgraded GE Vernova to a “strong-buy” rating in a research report on Friday, June 21st. Evercore ISI started coverage on GE Vernova in a research report on Thursday, April 18th. They issued an “outperform” rating and a $174.00 target price on the stock. Bank of America started coverage on GE Vernova in a research report on Wednesday, April 24th. They set a “neutral” rating and a $150.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on GE Vernova from $186.00 to $195.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Finally, Mizuho lifted their price target on GE Vernova from $154.00 to $164.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $175.89.

GE Vernova Stock Performance

GEV opened at $170.60 on Monday. GE Vernova has a 12 month low of $115.00 and a 12 month high of $185.50. The firm has a 50 day simple moving average of $171.72.

GE Vernova (NYSE:GEV) last posted its earnings results on Thursday, April 25th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.17). The company had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.56 billion. As a group, research analysts expect that GE Vernova will post 3.03 earnings per share for the current fiscal year.

Institutional Trading of GE Vernova

Several hedge funds and other institutional investors have recently modified their holdings of GEV. Anderson Hoagland & Co. acquired a new stake in shares of GE Vernova in the first quarter worth $1,720,000. Maryland State Retirement & Pension System acquired a new stake in shares of GE Vernova in the first quarter worth $2,892,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of GE Vernova in the first quarter worth $478,000. Valeo Financial Advisors LLC acquired a new stake in shares of GE Vernova in the first quarter worth $673,000. Finally, Boit C F David acquired a new stake in GE Vernova during the first quarter valued at $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.