GE Vernova (NYSE:GEV) Earns “Hold” Rating from HSBC

HSBC reaffirmed their hold rating on shares of GE Vernova (NYSE:GEV) in a research report sent to investors on Friday morning, Marketbeat reports. HSBC currently has a $255.00 target price on the stock, up from their previous target price of $240.00.

A number of other brokerages also recently commented on GEV. Citigroup initiated coverage on GE Vernova in a research report on Tuesday, June 11th. They issued a neutral rating and a $183.00 price objective for the company. Daiwa Capital Markets began coverage on shares of GE Vernova in a report on Friday, June 21st. They set an outperform rating and a $201.50 price objective for the company. Mizuho upped their target price on shares of GE Vernova from $186.00 to $208.00 and gave the company an outperform rating in a research note on Friday, July 26th. Argus started coverage on shares of GE Vernova in a research note on Thursday, June 13th. They set a buy rating and a $190.00 price target for the company. Finally, Barclays upped their price objective on GE Vernova from $250.00 to $300.00 and gave the company an overweight rating in a research note on Wednesday, October 2nd. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, GE Vernova has a consensus rating of Moderate Buy and an average target price of $234.98.

GE Vernova Stock Up 4.3 %

Shares of NYSE:GEV opened at $265.59 on Friday. The firm’s 50 day simple moving average is $205.35. GE Vernova has a twelve month low of $115.00 and a twelve month high of $266.42.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. The company had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.42 billion. On average, equities research analysts forecast that GE Vernova will post 2.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GE Vernova

Several large investors have recently made changes to their positions in the company. Anderson Hoagland & Co. bought a new stake in GE Vernova during the 1st quarter worth about $1,720,000. Maryland State Retirement & Pension System bought a new stake in shares of GE Vernova during the first quarter worth approximately $2,892,000. Boit C F David acquired a new stake in GE Vernova during the 1st quarter worth $149,000. ANTIPODES PARTNERS Ltd bought a new stake in shares of GE Vernova during the 1st quarter valued at $30,000. Finally, Nwam LLC acquired a new position in shares of GE Vernova in the 1st quarter valued at $1,531,000.

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.