Morgan Stanley Reiterates “Overweight” Rating for GE Vernova (NYSE:GEV)

GE Vernova (NYSE:GEV)‘s stock had its “overweight” rating reaffirmed by stock analysts at Morgan Stanley in a research note issued to investors on Monday, Benzinga reports. They currently have a $220.00 price target on the stock. Morgan Stanley’s price target suggests a potential upside of 18.57% from the company’s previous close.

A number of other equities research analysts also recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $180.00 target price on shares of GE Vernova in a research report on Monday, July 22nd. JPMorgan Chase & Co. boosted their price objective on shares of GE Vernova from $195.00 to $216.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Daiwa America raised GE Vernova to a “strong-buy” rating in a report on Friday, June 21st. Evercore ISI boosted their price target on GE Vernova from $174.00 to $202.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Mizuho upped their price target on GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus price target of $189.83.

GE Vernova Stock Up 1.9 %

Shares of NYSE GEV opened at $185.55 on Monday. GE Vernova has a fifty-two week low of $115.00 and a fifty-two week high of $190.80. The firm’s 50 day simple moving average is $174.92.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. The firm had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.42 billion. On average, sell-side analysts anticipate that GE Vernova will post 3.43 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in GE Vernova by 1.7% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,555 shares of the company’s stock worth $650,000 after purchasing an additional 61 shares during the period. Wedmont Private Capital increased its holdings in shares of GE Vernova by 3.2% in the 2nd quarter. Wedmont Private Capital now owns 3,533 shares of the company’s stock valued at $638,000 after acquiring an additional 109 shares during the period. Deseret Mutual Benefit Administrators purchased a new position in shares of GE Vernova in the 2nd quarter valued at $25,000. Trifecta Capital Advisors LLC purchased a new position in shares of GE Vernova in the 2nd quarter valued at $25,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of GE Vernova in the 2nd quarter valued at $25,000.

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.