GE Vernova (NYSE:GEV) Rating Increased to Buy at Wall Street Zen

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

Several other brokerages have also commented on GEV. Barclays lifted their price objective on GE Vernova from $500.00 to $550.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. JPMorgan Chase & Co. upped their price target on shares of GE Vernova from $430.00 to $460.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Jefferies Financial Group cut shares of GE Vernova from a "buy" rating to a "hold" rating and increased their price objective for the stock from $427.00 to $517.00 in a research note on Thursday, May 29th. Citigroup cut their target price on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, The Goldman Sachs Group increased their price target on shares of GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $440.04.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $517.35 on Friday. The firm has a market cap of $141.20 billion, a price-to-earnings ratio of 74.55, a price-to-earnings-growth ratio of 3.98 and a beta of 1.86. The business has a 50-day simple moving average of $461.19 and a two-hundred day simple moving average of $382.74. GE Vernova has a fifty-two week low of $150.01 and a fifty-two week high of $532.59.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.54. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The company had revenue of $8.03 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter last year, the company posted ($0.47) earnings per share. The firm's quarterly revenue was up 10.6% on a year-over-year basis. As a group, research analysts predict that GE Vernova will post 6.59 earnings per share for the current year.

Hedge Funds Weigh In On GE Vernova

Several hedge funds have recently modified their holdings of GEV. MRP Capital Investments LLC bought a new stake in GE Vernova in the 4th quarter valued at $25,000. Fairway Wealth LLC grew its position in shares of GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after purchasing an additional 55 shares in the last quarter. Navigoe LLC bought a new stake in shares of GE Vernova in the fourth quarter worth about $27,000. EQ Wealth Advisors LLC purchased a new stake in shares of GE Vernova in the first quarter worth about $27,000. Finally, IMA Advisory Services Inc. purchased a new stake in shares of GE Vernova in the first quarter worth about $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.

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