HSBC Reiterates Hold Rating for GE Vernova (NYSE:GEV)

GE Vernova (NYSE:GEV)‘s stock had its “hold” rating reissued by stock analysts at HSBC in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $255.00 price target on the stock, up from their prior price target of $240.00. HSBC’s target price points to a potential upside of 0.14% from the stock’s current price.

GEV has been the topic of a number of other research reports. Daiwa Capital Markets started coverage on GE Vernova in a report on Friday, June 21st. They set an “outperform” rating and a $201.50 price target on the stock. Redburn Atlantic started coverage on GE Vernova in a report on Tuesday, July 2nd. They set a “neutral” rating and a $178.00 price target on the stock. Morgan Stanley raised their price target on GE Vernova from $220.00 to $256.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Barclays raised their price objective on shares of GE Vernova from $250.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, The Goldman Sachs Group raised their price objective on shares of GE Vernova from $196.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $234.98.

GE Vernova Stock Performance

Shares of GEV stock opened at $254.64 on Friday. The business’s 50-day moving average price is $203.50. GE Vernova has a 1 year low of $115.00 and a 1 year high of $258.64.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.42 billion. Analysts predict that GE Vernova will post 2.83 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Apella Capital LLC purchased a new stake in GE Vernova in the 3rd quarter worth approximately $216,000. Park Avenue Securities LLC purchased a new stake in GE Vernova in the 3rd quarter worth approximately $2,042,000. Johnson & White Wealth Management LLC purchased a new stake in GE Vernova in the 3rd quarter worth approximately $228,000. VERITY Wealth Advisors purchased a new stake in GE Vernova in the 3rd quarter worth approximately $238,000. Finally, Czech National Bank grew its stake in GE Vernova by 7.2% in the 3rd quarter. Czech National Bank now owns 55,980 shares of the company’s stock worth $14,274,000 after acquiring an additional 3,751 shares during the period.

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.