GE Vernova (NYSE:GEV) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of GE Vernova (NYSE:GEV) in a report published on Friday morning, Benzinga reports. Royal Bank of Canada currently has a $262.00 target price on the stock.

A number of other equities analysts have also recently commented on the stock. HSBC reissued a “hold” rating and issued a $255.00 price target (up previously from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Oppenheimer began coverage on GE Vernova in a research report on Thursday, September 26th. They set a “market perform” rating on the stock. Morgan Stanley upped their price objective on GE Vernova from $220.00 to $256.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. The Goldman Sachs Group raised their price objective on GE Vernova from $220.00 to $308.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Barclays upped their target price on GE Vernova from $250.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $246.73.

GE Vernova Stock Up 0.3 %

GE Vernova stock opened at $272.72 on Friday. GE Vernova has a fifty-two week low of $115.00 and a fifty-two week high of $281.37. The firm’s fifty day moving average price is $224.93 and its 200-day moving average price is $185.19.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, topping 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 expect that GE Vernova will post 3.21 earnings per share for the current year.

Institutional Inflows and Outflows

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

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.