GE Vernova (NYSE:GEV) Downgraded by Wall Street Zen to Hold

Key Points

• GE Vernova (NYSE:GEV) has been downgraded from a "buy" to a "hold" rating by Wall Street Zen.
• Despite the downgrade, multiple investment firms, including Bank of America and Goldman Sachs, have increased their price targets for the stock, reflecting continued confidence in its potential.
• GE Vernova recently posted earnings of $1.86 per share, exceeding analyst expectations and showing an 11.1% revenue growth year-over-year.

GE Vernova (NYSE:GEV - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

GEV has been the topic of several other research reports. Bank of America lifted their price target on shares of GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. The Goldman Sachs Group boosted their target price on GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Morgan Stanley boosted their target price on GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a research report on Thursday. Barclays boosted their target price on GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, TD Cowen boosted their target price on GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research report on Friday. Eight investment analysts have rated the stock with a hold rating, twenty have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $540.96.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $644.60 on Friday. The stock has a market cap of $175.93 billion, a P/E ratio of 155.33, a P/E/G ratio of 4.66 and a beta of 1.86. The stock's 50 day simple moving average is $510.80 and its 200-day simple moving average is $406.08. GE Vernova has a 1-year low of $150.01 and a 1-year high of $651.22.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.23. The business had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.65 EPS. As a group, research analysts expect that GE Vernova will post 6.59 EPS for the current fiscal year.

Institutional Investors Weigh In On GE Vernova

A number of hedge funds have recently added to or reduced their stakes in GEV. Navigoe LLC acquired a new stake in GE Vernova in the fourth quarter valued at about $27,000. EQ Wealth Advisors LLC acquired a new stake in GE Vernova in the first quarter valued at about $27,000. IMA Advisory Services Inc. acquired a new stake in GE Vernova in the first quarter valued at about $27,000. Clarity Asset Management Inc. acquired a new stake in GE Vernova in the fourth quarter valued at about $28,000. Finally, Pinpoint Asset Management Ltd acquired a new stake in GE Vernova in the fourth quarter valued at about $30,000.

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.

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