GE Vernova (NYSE:GEV) Stock Rating Lowered by Mizuho

Key Points

• Mizuho downgraded GE Vernova's stock rating from "outperform" to "neutral", with a target price of $670.00, indicating a potential upside of 3.94% from the last closing price.
• Despite Mizuho's downgrade, other analysts have maintained positive outlooks, with target prices raised by TD Cowen, BMO Capital Markets, and Wells Fargo, reflecting a majority "buy" rating from investment analysts.
• GE Vernova's recent earnings report showed an EPS of $1.86, exceeding expectations, and revenue growth of 11.1% year-over-year with a net margin of 3.16% for the quarter.

GE Vernova (NYSE:GEV - Get Free Report) was downgraded by analysts at Mizuho from an "outperform" rating to a "neutral" rating in a research note issued on Monday,Finviz reports. They presently have a $670.00 target price on the stock. Mizuho's price objective indicates a potential upside of 3.94% from the stock's previous close.

A number of other equities analysts have also weighed in on GEV. TD Cowen upped their target price on GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a research report on Friday. BMO Capital Markets raised their price objective on GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a research note on Thursday. Wells Fargo & Company raised their price objective on GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a research note on Thursday. The Goldman Sachs Group raised their price objective on GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Finally, Glj Research started coverage on GE Vernova in a research note on Monday, June 23rd. They set a "buy" rating on the stock. Ten investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, GE Vernova has an average rating of "Moderate Buy" and an average target price of $560.21.

GE Vernova Price Performance

Shares of GEV stock opened at $644.60 on Monday. The business's 50 day simple moving average is $510.80 and its 200 day simple moving average is $406.63. GE Vernova has a one year low of $150.01 and a one year high of $651.22. The stock has a market capitalization of $175.47 billion, a PE ratio of 155.33, a PEG ratio of 4.57 and a beta of 1.86.

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

Hedge Funds Weigh In On GE Vernova

Large investors have recently bought and sold shares of the stock. Highline Wealth Partners LLC increased its stake in GE Vernova by 34.6% in the 2nd quarter. Highline Wealth Partners LLC now owns 70 shares of the company's stock worth $37,000 after purchasing an additional 18 shares during the period. Raleigh Capital Management Inc. purchased a new position in GE Vernova in the 2nd quarter worth approximately $37,000. Navigoe LLC purchased a new position in shares of GE Vernova during the fourth quarter valued at approximately $27,000. Clarity Asset Management Inc. purchased a new position in shares of GE Vernova during the fourth quarter valued at approximately $28,000. Finally, IMA Advisory Services Inc. purchased a new position in shares of GE Vernova during the first quarter valued at approximately $27,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.