GE Vernova (NYSE:GEV) Upgraded to “Buy” by Bank of America

Bank of America upgraded shares of GE Vernova (NYSE:GEV) from a neutral rating to a buy rating in a report released on Tuesday morning, Marketbeat.com reports. They currently have $300.00 price objective on the stock, up from their prior price objective of $200.00.

A number of other equities research analysts also recently commented on the company. Evercore ISI boosted their target price on GE Vernova from $202.00 to $240.00 and gave the stock an outperform rating in a research report on Thursday, September 12th. Barclays assumed coverage on GE Vernova in a research report on Monday, September 16th. They issued an overweight rating and a $250.00 target price on the stock. William Blair assumed coverage on GE Vernova in a research report on Thursday, August 29th. They issued an outperform rating on the stock. Jefferies Financial Group initiated coverage on GE Vernova in a research report on Wednesday, September 4th. They issued a buy rating and a $261.00 target price on the stock. Finally, Morgan Stanley boosted their price objective on GE Vernova from $220.00 to $256.00 and gave the stock an overweight rating in a research note on Friday, September 13th. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $219.42.

GE Vernova Trading Up 0.4 %

Shares of GE Vernova stock opened at $245.46 on Tuesday. The firm has a 50-day simple moving average of $188.08. GE Vernova has a 52 week low of $115.00 and a 52 week high of $250.85.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, beating the consensus estimate 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, equities research analysts anticipate that GE Vernova will post 3.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Deseret Mutual Benefit Administrators bought a new position in shares of GE Vernova during the second quarter valued at approximately $25,000. Trifecta Capital Advisors LLC bought a new position in GE Vernova in the second quarter worth approximately $25,000. Meeder Asset Management Inc. bought a new position in GE Vernova in the second quarter worth approximately $25,000. Global Trust Asset Management LLC bought a new position in GE Vernova in the second quarter worth approximately $26,000. Finally, Gradient Investments LLC bought a new position in GE Vernova in the second quarter worth approximately $27,000.

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.