GE Vernova (NYSE:GEV) Price Target Cut to $1,400.00 by Analysts at Guggenheim

Key Points

• Guggenheim lowered GE Vernova’s price target to $1,400 from $1,450 while maintaining a “buy” rating, implying 63.82% potential upside from the stock’s $854.58 opening price.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $1,150.87, despite mixed target-price revisions from other firms.
• GE Vernova’s latest quarter exceeded expectations: adjusted EPS was $4.81 versus $4.03 expected, revenue reached $12.64 billion, and revenue rose 26.8% year over year.

GE Vernova (NYSE:GEV - Get Free Report) had its price target lowered by research analysts at Guggenheim from $1,450.00 to $1,400.00 in a report issued on Monday, Benzinga reports. The firm presently has a "buy" rating on the stock. Guggenheim's target price would suggest a potential upside of 63.82% from the stock's current price.

Several other equities analysts also recently commented on GEV. HSBC upgraded shares of GE Vernova from a "hold" rating to a "buy" rating and boosted their price target for the stock from $1,040.00 to $1,100.00 in a research note on Friday. Weiss Ratings reiterated a "buy (b)" rating on shares of GE Vernova in a research note on Monday, October 19th. JPMorgan Chase & Co. decreased their target price on GE Vernova from $1,150.00 to $1,035.00 and set an "overweight" rating for the company in a report on Thursday. Sanford C. Bernstein reissued an "outperform" rating and set a $1,298.00 target price on shares of GE Vernova in a research note on Wednesday, October 28th. Finally, Glj Research boosted their target price on GE Vernova from $470.00 to $540.00 and gave the stock a "sell" rating in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,150.87.

GE Vernova Trading Down 0.4%

Shares of GEV stock opened at $854.58 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.62 and a current ratio of 0.83. The stock has a market capitalization of $226.19 billion, a P/E ratio of 22.42, a price-to-earnings-growth ratio of 2.91 and a beta of 1.25. The company has a 50 day moving average price of $934.85 and a 200 day moving average price of $940.34. GE Vernova has a fifty-two week low of $530.16 and a fifty-two week high of $1,195.94.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, October 28th. The company reported $4.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.03 by $0.78. The company had revenue of $12.64 billion for the quarter, compared to analyst estimates of $11.99 billion. GE Vernova had a net margin of 23.54% and a return on equity of 46.50%. The firm's quarterly revenue was up 26.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.64 EPS. Equities research analysts predict that GE Vernova will post 16.05 EPS for the current fiscal year.

Institutional Investors Weigh In On GE Vernova

Several institutional investors have recently modified their holdings of GEV. Pathway Financial Advisers LLC purchased a new stake in GE Vernova during the third quarter worth approximately $70,000. Costello Asset Management INC boosted its holdings in GE Vernova by 2.9% in the third quarter. Costello Asset Management INC now owns 1,068 shares of the company's stock valued at $1,015,000 after purchasing an additional 30 shares in the last quarter. Bfsg LLC boosted its holdings in GE Vernova by 10.8% in the third quarter. Bfsg LLC now owns 3,324 shares of the company's stock valued at $3,159,000 after purchasing an additional 323 shares in the last quarter. Northeast Investment Management increased its stake in GE Vernova by 5.0% in the third quarter. Northeast Investment Management now owns 13,186 shares of the company's stock valued at $12,533,000 after purchasing an additional 631 shares during the last quarter. Finally, Chicago Partners Investment Group LLC increased its stake in GE Vernova by 6.0% in the third quarter. Chicago Partners Investment Group LLC now owns 10,964 shares of the company's stock valued at $8,935,000 after purchasing an additional 622 shares during the last quarter.

About GE Vernova

GE Vernova Inc NYSE: GEV is an energy technology company focused on helping generate, transmit, store and deliver electricity. The company serves utilities, power producers, grid operators, commercial and industrial customers, and other energy-sector participants worldwide.

Its business is organized around three primary areas: Power, Wind and Electrification. Power provides technologies and services for gas and steam power generation, hydropower, nuclear power and other energy systems.

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