Royal Bank of Canada Reaffirms Outperform Rating for GE Vernova (NYSE:GEV)

Royal Bank of Canada reissued their outperform rating on shares of GE Vernova (NYSE:GEV) in a research note published on Monday, Benzinga reports. The brokerage currently has a $180.00 target price on the stock.

A number of other equities analysts have also recently weighed in on GEV. Bank of America initiated coverage on GE Vernova in a research report on Wednesday, April 24th. They set a neutral rating and a $150.00 price objective for the company. Daiwa Capital Markets initiated coverage on shares of GE Vernova in a report on Friday, June 21st. They issued an outperform rating and a $201.50 price objective on the stock. Redburn Atlantic began coverage on shares of GE Vernova in a report on Tuesday, July 2nd. They issued a neutral rating and a $178.00 target price for the company. Mizuho upped their price target on GE Vernova from $154.00 to $164.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. Finally, Citigroup started coverage on GE Vernova in a research note on Tuesday, June 11th. They issued a neutral rating and a $183.00 price objective for the company. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, GE Vernova presently has a consensus rating of Moderate Buy and a consensus price target of $175.89.

GE Vernova Trading Down 4.5 %

NYSE:GEV opened at $162.88 on Monday. The company has a 50-day moving average price of $171.62. GE Vernova has a 1-year low of $115.00 and a 1-year high of $185.50.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Thursday, April 25th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.17). The company had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.56 billion. Equities analysts expect that GE Vernova will post 3.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD purchased a new stake in shares of GE Vernova during the 1st quarter worth $367,474,000. Assenagon Asset Management S.A. purchased a new stake in GE Vernova during the 2nd quarter worth about $217,569,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in GE Vernova during the 2nd quarter worth about $104,273,000. Steadfast Capital Management LP acquired a new position in shares of GE Vernova during the 1st quarter worth about $80,235,000. Finally, New York State Teachers Retirement System acquired a new stake in shares of GE Vernova during the 2nd quarter worth about $42,236,000.

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.