GE Vernova (NYSE:GEV) Coverage Initiated by Analysts at Barclays

Barclays began coverage on shares of GE Vernova (NYSE:GEV) in a research note issued to investors on Monday morning, Marketbeat.com reports. The brokerage issued an overweight rating and a $250.00 target price on the stock.

Several other research firms also recently issued reports on GEV. Morgan Stanley boosted their price target on GE Vernova from $220.00 to $256.00 and gave the company an overweight rating in a research note on Friday, September 13th. HSBC initiated coverage on GE Vernova in a research report on Monday, August 12th. They issued a buy rating and a $215.00 price target on the stock. BMO Capital Markets began coverage on shares of GE Vernova in a research report on Friday, September 13th. They set an outperform rating and a $245.00 target price on the stock. William Blair began coverage on shares of GE Vernova in a report on Thursday, August 29th. They set an outperform rating on the stock. Finally, Royal Bank of Canada restated an outperform rating and set a $180.00 price target on shares of GE Vernova in a report on Monday, July 22nd. Three investment 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $217.64.

GE Vernova Stock Performance

GEV stock opened at $244.45 on Monday. The business’s 50-day simple moving average is $186.78. GE Vernova has a 1-year low of $115.00 and a 1-year high of $245.00.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data 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 business had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.42 billion. Analysts predict that GE Vernova will post 3.02 earnings per share for the current year.

Hedge Funds Weigh In On GE Vernova

Hedge funds have recently bought and sold shares of the business. Newport Trust Company LLC purchased a new position in GE Vernova during the 2nd quarter worth $650,140,000. Bank of New York Mellon Corp purchased a new stake in GE Vernova during the second quarter worth $537,674,000. Price T Rowe Associates Inc. MD purchased a new position in shares of GE Vernova in the 1st quarter valued at $367,474,000. Marshall Wace LLP purchased a new stake in shares of GE Vernova during the second quarter valued at about $399,770,000. Finally, Legal & General Group Plc purchased a new stake in GE Vernova during the second quarter valued at approximately $293,699,000.

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.