GE Vernova (NYSE:GEV) Stock Rating Upgraded by Evercore ISI

Key Points

• Evercore ISI upgraded GE Vernova to a strong-buy, and other major firms including Goldman Sachs, UBS, RBC and Susquehanna have recently issued buy/outperform ratings, leaving a MarketBeat consensus of Moderate Buy with an average price target of $680.52.
• Shares opened at $686.35, trading near the 52-week high of $731.00 (52-week low $252.25); the company has a market cap of $186.22 billion and a price-to-earnings ratio of 111.78.
• In the most recent quarter GE Vernova reported EPS of $1.64, missing estimates by $0.08, while revenue of $9.97 billion beat expectations and rose 11.8% year-over-year, with analysts forecasting 6.59 EPS for the current fiscal year.

GE Vernova (NYSE:GEV - Get Free Report) was upgraded by investment analysts at Evercore ISI to a "strong-buy" rating in a note issued to investors on Monday,Zacks.com reports.

GEV has been the subject of several other reports. The Goldman Sachs Group reaffirmed a "buy" rating and set a $840.00 price objective on shares of GE Vernova in a research report on Tuesday. UBS Group increased their price target on shares of GE Vernova from $760.00 to $835.00 and gave the company a "buy" rating in a research note on Wednesday, December 10th. Jefferies Financial Group restated a "hold" rating and set a $654.00 price objective on shares of GE Vernova in a research report on Monday, October 27th. Royal Bank Of Canada upgraded shares of GE Vernova from a "sector perform" rating to an "outperform" rating and set a $761.00 target price for the company in a report on Wednesday, December 10th. Finally, Susquehanna boosted their price target on shares of GE Vernova from $750.00 to $775.00 and gave the company a "positive" rating in a research report on Wednesday, December 10th. Four analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $680.52.

GE Vernova Stock Up 0.7%

GE Vernova stock opened at $686.35 on Monday. GE Vernova has a 52-week low of $252.25 and a 52-week high of $731.00. The company's 50 day moving average is $600.25 and its two-hundred day moving average is $586.50. The firm has a market cap of $186.22 billion, a PE ratio of 111.78, a price-to-earnings-growth ratio of 5.20 and a beta of 1.71.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts' consensus estimates of $1.72 by ($0.08). The company had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The business's quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.35) earnings per share. On average, equities research analysts anticipate that GE Vernova will post 6.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Brighton Jones LLC boosted its holdings in shares of GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock valued at $1,091,000 after acquiring an additional 753 shares in the last quarter. Aptus Capital Advisors LLC increased its position in GE Vernova by 16.2% during the 1st quarter. Aptus Capital Advisors LLC now owns 3,742 shares of the company's stock worth $1,142,000 after purchasing an additional 521 shares during the period. Colonial Trust Advisors raised its stake in shares of GE Vernova by 5.3% during the 1st quarter. Colonial Trust Advisors now owns 1,366 shares of the company's stock worth $417,000 after buying an additional 69 shares in the last quarter. Legacy Financial Advisors Inc. lifted its holdings in shares of GE Vernova by 2.5% in the 1st quarter. Legacy Financial Advisors Inc. now owns 2,106 shares of the company's stock valued at $643,000 after buying an additional 51 shares during the period. Finally, Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in shares of GE Vernova by 12.9% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 6,407 shares of the company's stock valued at $1,954,000 after buying an additional 733 shares in the last quarter.

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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