HSBC Forecasts Strong Price Appreciation for GE Vernova (NYSE:GEV) Stock

Key Points

• HSBC has raised its price target for GE Vernova from $570 to $580, maintaining a "hold" rating, indicating potential downside from its current trading price.
• Recent analyst ratings show mixed views; while Mizuho and Jefferies downgraded the stock, TD Cowen and Robert W. Baird issued higher price targets with "buy" ratings.
• In the latest quarterly earnings report, GE Vernova posted an EPS of $1.86, exceeding estimates and showing an 11.1% revenue increase year-over-year.

GE Vernova (NYSE:GEV - Get Free Report) had its price objective raised by equities researchers at HSBC from $570.00 to $580.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "hold" rating on the stock. HSBC's price target points to a potential downside of 3.26% from the stock's previous close.

A number of other research analysts have also recently commented on the company. Seaport Res Ptn raised GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. Bank of America boosted their price target on GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Jefferies Financial Group cut GE Vernova from a "buy" rating to a "hold" rating and boosted their price target for the stock from $427.00 to $517.00 in a report on Thursday, May 29th. Mizuho cut GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target on the stock. in a report on Monday, July 28th. Finally, Barclays boosted their price target on GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $573.75.

GE Vernova Price Performance

Shares of GEV stock traded up $17.49 during trading hours on Friday, reaching $599.57. 2,511,642 shares of the company traded hands, compared to its average volume of 3,520,994. GE Vernova has a 12-month low of $197.38 and a 12-month high of $677.29. The company has a market cap of $163.22 billion, a P/E ratio of 144.48, a P/E/G ratio of 4.02 and a beta of 1.88. The firm has a 50-day moving average price of $597.95 and a 200 day moving average price of $458.69.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The firm had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. During the same period in the previous year, the firm earned $4.65 EPS. The business's quarterly revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. Sell-side analysts predict that GE Vernova will post 6.59 EPS for the current year.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the sale, the chief financial officer directly owned 7,590 shares of the company's stock, valued at $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On GE Vernova

Several large investors have recently modified their holdings of GEV. Norges Bank bought a new position in shares of GE Vernova during the 2nd quarter valued at approximately $1,809,220,000. GAMMA Investing LLC increased its position in shares of GE Vernova by 32,984.2% during the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock valued at $653,769,000 after purchasing an additional 2,135,066 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of GE Vernova by 273.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company's stock valued at $798,126,000 after purchasing an additional 1,104,747 shares during the last quarter. AQR Capital Management LLC increased its position in shares of GE Vernova by 252.9% during the 1st quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company's stock valued at $366,016,000 after purchasing an additional 892,549 shares during the last quarter. Finally, Amundi increased its position in shares of GE Vernova by 109.0% during the 1st quarter. Amundi now owns 1,665,980 shares of the company's stock valued at $496,013,000 after purchasing an additional 868,927 shares during the last quarter.

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.