GE Vernova’s (GEV) “Outperform” Rating Reaffirmed at Royal Bank of Canada

GE Vernova (NYSE:GEV)‘s stock had its “outperform” rating reissued by investment analysts at Royal Bank of Canada in a report issued on Friday, Benzinga reports. They presently have a $262.00 price objective on the stock. Royal Bank of Canada’s price target points to a potential downside of 4.20% from the stock’s current price.

GEV has been the topic of several other research reports. Oppenheimer started coverage on shares of GE Vernova in a report on Thursday, September 26th. They issued a “market perform” rating on the stock. Evercore ISI lifted their target price on shares of GE Vernova from $285.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. The Goldman Sachs Group lifted their target price on shares of GE Vernova from $220.00 to $308.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Jefferies Financial Group lifted their target price on shares of GE Vernova from $261.00 to $293.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Finally, William Blair began coverage on shares of GE Vernova in a report on Thursday, August 29th. They issued an “outperform” rating on the stock. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $244.58.

GE Vernova Stock Performance

GE Vernova stock opened at $273.50 on Friday. The firm’s fifty day simple moving average is $223.06 and its 200-day simple moving average is $184.23. GE Vernova has a 1-year low of $115.00 and a 1-year high of $281.37.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.42 billion. On average, research analysts predict that GE Vernova will post 3.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GE Vernova

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Deseret Mutual Benefit Administrators acquired a new position in GE Vernova in the second quarter valued at about $25,000. Trifecta Capital Advisors LLC acquired a new position in GE Vernova in the second quarter valued at about $25,000. Meeder Asset Management Inc. acquired a new position in GE Vernova in the second quarter valued at about $25,000. Global Trust Asset Management LLC acquired a new position in GE Vernova in the second quarter valued at about $26,000. Finally, Gradient Investments LLC acquired a new position in GE Vernova in the second quarter valued at about $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.