Hsbc Global Res Upgrades GE Vernova (NYSE:GEV) to “Strong-Buy”

Hsbc Global Res upgraded shares of GE Vernova (NYSE:GEV) to a strong-buy rating in a research report released on Monday, Zacks.com reports.

GEV has been the subject of a number of other research reports. Citigroup initiated coverage on shares of GE Vernova in a research report on Tuesday, June 11th. They set a neutral rating and a $183.00 price objective for the company. Redburn Atlantic initiated coverage on shares of GE Vernova in a research report on Tuesday, July 2nd. They issued a neutral rating and a $178.00 price target for the company. Daiwa Capital Markets initiated coverage on shares of GE Vernova in a research report on Friday, June 21st. They issued an outperform rating and a $201.50 price target for the company. HSBC initiated coverage on shares of GE Vernova in a research report on Monday. They issued a buy rating and a $215.00 price target for the company. Finally, Evercore ISI increased their price target on shares of GE Vernova from $174.00 to $202.00 and gave the stock an outperform rating in a research report on Thursday, July 25th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $189.83.

GE Vernova Price Performance

GE Vernova stock opened at $188.70 on Monday. GE Vernova has a fifty-two week low of $115.00 and a fifty-two week high of $190.80. The stock’s fifty day moving average price is $172.92.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.42 billion. Equities analysts forecast that GE Vernova will post 3.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GE Vernova

A number of institutional investors and hedge funds have recently made changes to their positions in GEV. Anderson Hoagland & Co. bought a new stake in shares of GE Vernova during the 1st quarter worth approximately $1,720,000. Maryland State Retirement & Pension System bought a new position in shares of GE Vernova during the 1st quarter worth approximately $2,892,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in GE Vernova in the 1st quarter valued at $478,000. Valeo Financial Advisors LLC acquired a new stake in GE Vernova during the 1st quarter valued at $673,000. Finally, Boit C F David bought a new position in GE Vernova during the first quarter worth $149,000.

About GE Vernova

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.