HSBC Initiates Coverage on GE Vernova (NYSE:GEV)

HSBC initiated coverage on shares of GE Vernova (NYSE:GEV) in a research note issued to investors on Monday, Marketbeat reports. The brokerage issued a buy rating and a $215.00 price objective on the stock.

A number of other research firms have also issued reports on GEV. BNP Paribas began coverage on shares of GE Vernova in a research report on Wednesday, April 17th. They issued an outperform rating and a $177.00 price target for the company. Daiwa America upgraded shares of GE Vernova to a strong-buy rating in a report on Friday, June 21st. The Goldman Sachs Group increased their price objective on GE Vernova from $196.00 to $220.00 and gave the stock a buy rating in a report on Friday, July 26th. Mizuho lifted their price objective on GE Vernova from $186.00 to $208.00 and gave the company an outperform rating in a research report on Friday, July 26th. Finally, Argus initiated coverage on GE Vernova in a research report on Thursday, June 13th. They issued a buy rating and a $190.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given 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 a consensus price target of $189.83.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $188.70 on Monday. The company has a 50 day moving average price of $172.92. GE Vernova has a 52 week low of $115.00 and a 52 week high of $190.80.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.42 billion. On average, research analysts expect that GE Vernova will post 3.43 earnings per share for the current year.

Hedge Funds Weigh In On GE Vernova

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Deseret Mutual Benefit Administrators bought a new stake in shares of GE Vernova during the 2nd quarter worth $25,000. Trifecta Capital Advisors LLC acquired a new position in GE Vernova during the 2nd quarter worth $25,000. Meeder Asset Management Inc. acquired a new position in GE Vernova during the 2nd quarter worth $25,000. Global Trust Asset Management LLC bought a new stake in GE Vernova during the second quarter valued at about $26,000. Finally, Timber Creek Capital Management LLC acquired a new stake in shares of GE Vernova in the second quarter valued at about $27,000.

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.