GE Vernova (NYSE:GEV) Downgraded by Hsbc Global Res

Hsbc Global Res lowered shares of GE Vernova (NYSE:GEV) from a strong-buy rating to a hold rating in a report published on Friday, Zacks.com reports.

Several other equities analysts also recently issued reports on GEV. Mizuho increased their price objective on shares of GE Vernova from $186.00 to $208.00 and gave the company an outperform rating in a report on Friday, July 26th. Oppenheimer started coverage on GE Vernova in a research note on Thursday, September 26th. They set a market perform rating for the company. Truist Financial assumed coverage on GE Vernova in a research report on Thursday, September 26th. They issued a buy rating and a $300.00 target price on the stock. Morgan Stanley boosted their price target on GE Vernova from $220.00 to $256.00 and gave the stock an overweight rating in a research report on Friday, September 13th. Finally, William Blair initiated coverage on GE Vernova in a report on Thursday, August 29th. They issued an outperform rating on the stock. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $234.98.

GE Vernova Stock Up 4.3 %

Shares of NYSE GEV opened at $265.59 on Friday. GE Vernova has a 52-week low of $115.00 and a 52-week high of $266.42. The company has a 50 day moving average price of $205.35.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. The business had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.42 billion. Analysts anticipate that GE Vernova will post 2.83 EPS for the current year.

Hedge Funds Weigh In On GE Vernova

Several large investors have recently bought and sold shares of GEV. Deseret Mutual Benefit Administrators acquired a new position in shares of GE Vernova in the 2nd quarter valued at $25,000. Trifecta Capital Advisors LLC acquired a new stake in shares of GE Vernova in the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. purchased a new position in shares of GE Vernova in the second quarter valued at $25,000. Global Trust Asset Management LLC purchased a new stake in shares of GE Vernova in the 2nd quarter worth about $26,000. Finally, Gradient Investments LLC acquired a new stake in shares of GE Vernova in the second quarter valued at 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.