GE Vernova (NYSE:GEV) Lifted to “Strong-Buy” at Daiwa America

Daiwa America upgraded shares of GE Vernova (NYSE:GEV) to a strong-buy rating in a research note published on Friday morning, Zacks.com reports.

Several other equities analysts have also weighed in on GEV. JPMorgan Chase & Co. raised their price objective on shares of GE Vernova from $176.00 to $186.00 and gave the company an overweight rating in a research report on Monday, June 3rd. Argus started coverage on GE Vernova in a report on Thursday, June 13th. They set a buy rating and a $190.00 price target on the stock. Evercore ISI started 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. Morgan Stanley started coverage on GE Vernova in a report on Thursday, May 23rd. They set an equal weight rating and a $167.00 price target on the stock. Finally, BNP Paribas started coverage on GE Vernova in a report on Wednesday, April 17th. They set an outperform rating and a $177.00 price target on the stock. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $171.81.

GE Vernova Stock Performance

Shares of GEV opened at $178.14 on Friday. The company’s 50 day simple moving average is $163.22. GE Vernova has a twelve month low of $115.00 and a twelve month high of $185.50.

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

Institutional Investors Weigh In On GE Vernova

Several hedge funds and other institutional investors have recently modified their holdings of GEV. Price T Rowe Associates Inc. MD acquired a new stake in shares of GE Vernova in the first quarter worth $367,474,000. Steadfast Capital Management LP acquired a new stake in GE Vernova during the first quarter worth $80,235,000. Kinetic Partners Management LP acquired a new stake in GE Vernova during the first quarter worth $20,854,000. Yaupon Capital Management LP acquired a new stake in GE Vernova during the first quarter worth $10,256,000. Finally, Spear Holdings RSC Ltd acquired a new stake in GE Vernova during the first quarter worth $8,615,000.

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.