GE Vernova (NYSE:GEV) Earns Buy Rating from Analysts at Guggenheim

Equities researchers at Guggenheim started coverage on shares of GE Vernova (NYSE:GEV) in a research report issued on Tuesday, MarketBeat reports. The brokerage set a “buy” rating and a $300.00 price target on the stock. Guggenheim’s target price would indicate a potential upside of 17.62% from the company’s current price.

A number of other equities analysts have also commented on GEV. Argus started coverage on GE Vernova in a research note on Thursday, June 13th. They set a “buy” rating and a $190.00 price objective on the stock. Evercore ISI raised their price target on GE Vernova from $202.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Daiwa Capital Markets initiated coverage on shares of GE Vernova in a research report on Friday, June 21st. They set an “outperform” rating and a $201.50 price objective for the company. The Goldman Sachs Group lifted their price objective on shares of GE Vernova from $196.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. raised their price objective on GE Vernova from $216.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $223.66.

GE Vernova Price Performance

GEV opened at $255.05 on Tuesday. The stock’s fifty day moving average price is $191.02. GE Vernova has a fifty-two week low of $115.00 and a fifty-two week high of $257.75.

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 the consensus estimate 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

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Aspire Private Capital LLC bought a new position in shares of GE Vernova during the second quarter worth about $40,000. GAMMA Investing LLC bought a new position in GE Vernova during the 2nd quarter worth approximately $776,000. Sequoia Financial Advisors LLC acquired a new position in shares of GE Vernova in the 2nd quarter worth approximately $2,724,000. Parsons Capital Management Inc. RI bought a new stake in shares of GE Vernova in the 2nd quarter valued at $275,000. Finally, Armstrong Henry H Associates Inc. acquired a new stake in shares of GE Vernova during the second quarter worth $523,000.

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.