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

Redburn Atlantic began coverage on shares of GE Vernova (NYSE:GEV) in a research note released on Tuesday morning, Marketbeat reports. The brokerage issued a neutral rating and a $178.00 target price on the stock.

Several other research firms also recently commented on GEV. Citigroup initiated coverage on GE Vernova in a report on Tuesday, June 11th. They issued a neutral rating and a $183.00 price objective on the stock. Daiwa Capital Markets initiated coverage on GE Vernova in a report on Friday, June 21st. They issued an outperform rating and a $201.50 price objective on the stock. Morgan Stanley assumed coverage on GE Vernova in a report on Thursday, May 23rd. They issued an equal weight rating and a $167.00 price objective on the stock. Evercore ISI assumed coverage on GE Vernova in a report on Thursday, April 18th. They set an outperform rating and a $174.00 price target on the stock. Finally, Daiwa America upgraded GE Vernova to a strong-buy rating in a report on Friday, June 21st. 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, the stock has a consensus rating of Moderate Buy and an average target price of $172.25.

GE Vernova Trading Up 1.4 %

GEV opened at $169.81 on Tuesday. The business has a 50-day moving average of $167.28. GE Vernova has a 12 month low of $115.00 and a 12 month high of $185.50.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Thursday, April 25th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.17). The firm had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.56 billion. On average, analysts predict that GE Vernova will post 3.02 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in GEV. Price T Rowe Associates Inc. MD purchased a new position in shares of GE Vernova during the 1st quarter worth approximately $367,474,000. Steadfast Capital Management LP bought a new stake in shares of GE Vernova in the 1st quarter worth approximately $80,235,000. Kinetic Partners Management LP bought a new stake in shares of GE Vernova in the 1st quarter worth approximately $20,854,000. Yaupon Capital Management LP bought a new stake in shares of GE Vernova in the 1st quarter worth approximately $10,256,000. Finally, Spear Holdings RSC Ltd bought a new stake in shares of GE Vernova in the 1st quarter worth approximately $8,615,000.

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.