GE Vernova (NYSE:GEV) Upgraded by Rothschild & Co Redburn to Buy Rating

Key Points

• Rothschild & Co Redburn upgraded GE Vernova from a "sell" to a "buy" and raised its price objective from $560 to $1,100, implying roughly a 39% upside from the stock's current level.
• Analyst sentiment is broadly positive: MarketBeat shows a consensus rating of "Moderate Buy" with a consensus price target of $831.29, and multiple firms have issued buy/outperform or strong-buy views (e.g., Goldman Sachs $925, Robert W. Baird $923).
• GE Vernova beat expectations last quarter with $13.39 EPS vs. a $2.99 estimate and $10.96B revenue, and the shares trade around $790 with a market cap of about $212.9 billion.

GE Vernova (NYSE:GEV - Get Free Report) was upgraded by analysts at Rothschild & Co Redburn from a "sell" rating to a "buy" rating in a research report issued on Monday,Benzinga reports. The firm currently has a $1,100.00 price objective on the stock, up from their prior price objective of $560.00. Rothschild & Co Redburn's price objective suggests a potential upside of 39.24% from the stock's current price.

Several other analysts also recently issued reports on the stock. Mizuho set a $714.00 price objective on shares of GE Vernova in a research report on Tuesday, February 3rd. Robert W. Baird set a $923.00 target price on shares of GE Vernova and gave the company an "outperform" rating in a research note on Wednesday, February 4th. The Goldman Sachs Group raised their price target on shares of GE Vernova from $840.00 to $925.00 and gave the company a "buy" rating in a report on Thursday, January 29th. William Blair reaffirmed an "outperform" rating on shares of GE Vernova in a research note on Wednesday, December 10th. Finally, China Renaissance upgraded shares of GE Vernova to a "strong-buy" rating in a report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, GE Vernova presently has an average rating of "Moderate Buy" and a consensus price target of $831.29.

GE Vernova Price Performance

Shares of GEV opened at $790.00 on Monday. GE Vernova has a 12 month low of $252.25 and a 12 month high of $894.93. The stock's 50-day moving average is $743.08 and its two-hundred day moving average is $656.48. The stock has a market cap of $212.93 billion, a PE ratio of 44.38, a P/E/G ratio of 3.14 and a beta of 1.45.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, beating the consensus estimate of $2.99 by $10.40. The business had revenue of $10.96 billion for the quarter, compared to the consensus estimate of $10.21 billion. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The company's revenue was up 3.8% on a year-over-year basis. During the same period last year, the business posted $1.73 EPS. On average, research analysts anticipate that GE Vernova will post 6.59 earnings per share for the current year.

Institutional Trading of GE Vernova

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in GE Vernova by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company's stock worth $16,354,691,000 after acquiring an additional 208,162 shares in the last quarter. State Street Corp raised its stake in shares of GE Vernova by 2.1% in the 4th quarter. State Street Corp now owns 11,469,670 shares of the company's stock valued at $7,496,232,000 after purchasing an additional 231,392 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of GE Vernova by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company's stock valued at $4,074,039,000 after purchasing an additional 68,894 shares in the last quarter. Morgan Stanley lifted its position in shares of GE Vernova by 12.8% during the fourth quarter. Morgan Stanley now owns 6,054,474 shares of the company's stock worth $3,957,024,000 after purchasing an additional 685,466 shares during the last quarter. Finally, Norges Bank acquired a new position in GE Vernova in the fourth quarter worth about $2,283,114,000.

GE Vernova Company Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.

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