Bank of America Issues Positive Forecast for GE Vernova (NYSE:GEV) Stock Price

GE Vernova (NYSE:GEV) had its price target raised by equities researchers at Bank of America from $520.00 to $550.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price objective points to a potential upside of 13.02% from the company’s previous close.

GEV has been the topic of several other research reports. Guggenheim restated a “buy” rating and issued a $380.00 price target on shares of GE Vernova in a research report on Thursday, April 24th. Royal Bank of Canada decreased their target price on GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. TD Cowen reduced their target price on GE Vernova from $405.00 to $390.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Susquehanna reiterated a “positive” rating and issued a $499.00 price target (up previously from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. Finally, CICC Research initiated coverage on GE Vernova in a report on Wednesday, February 19th. They set an “outperform” rating on the stock. Seven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $395.98.

GE Vernova Trading Up 0.7%

Shares of GE Vernova stock opened at $486.64 on Wednesday. The company’s 50-day moving average price is $404.31 and its two-hundred day moving average price is $364.45. GE Vernova has a 52 week low of $150.01 and a 52 week high of $500.72. The stock has a market cap of $132.82 billion, a PE ratio of 87.53, a price-to-earnings-growth ratio of 3.03 and a beta of 1.97.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data 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 4.44% and a return on equity of 6.70%. The company had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.56 billion. During the same quarter in the previous year, the company posted ($0.47) EPS. The business’s revenue was up 10.6% compared to the same quarter last year. On average, equities analysts predict that GE Vernova will post 6.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. MRP Capital Investments LLC acquired a new position in GE Vernova during the fourth quarter worth $25,000. Fairway Wealth LLC boosted its stake in shares of GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after acquiring an additional 55 shares in the last quarter. Navigoe LLC acquired a new position in shares of GE Vernova during the 4th quarter valued at about $27,000. Clarity Asset Management Inc. bought a new position in shares of GE Vernova in the 4th quarter valued at approximately $28,000. Finally, IMA Advisory Services Inc. bought a new position in shares of GE Vernova in the 1st quarter valued at approximately $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.