GE Vernova (NYSE:GEV) Coverage Initiated at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of GE Vernova (NYSE:GEV) in a research report sent to investors on Wednesday, Marketbeat.com reports. The firm issued a buy rating and a $261.00 price objective on the stock.

Several other research firms have also issued reports on GEV. Hsbc Global Res upgraded GE Vernova to a strong-buy rating in a report on Monday, August 12th. Redburn Atlantic assumed coverage on GE Vernova in a research note on Tuesday, July 2nd. They issued a neutral rating and a $178.00 price objective on the stock. Daiwa Capital Markets assumed coverage on GE Vernova in a research note on Friday, June 21st. They issued an outperform rating and a $201.50 price objective on the stock. HSBC assumed coverage on GE Vernova in a research note on Monday, August 12th. They issued a buy rating and a $215.00 price objective on the stock. Finally, Evercore ISI upped their price objective on GE Vernova from $174.00 to $202.00 and gave the company an outperform rating in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $194.28.

GE Vernova Stock Performance

GEV opened at $198.33 on Wednesday. GE Vernova has a 52-week low of $115.00 and a 52-week high of $204.19. The stock’s 50-day moving average is $177.98.

GE Vernova (NYSE:GEV) last released its earnings results 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 for the quarter, compared to the consensus estimate of $8.42 billion. Equities research analysts predict that GE Vernova will post 3.1 EPS for the current year.

Institutional Investors Weigh In On GE Vernova

A number of large investors have recently added to or reduced their stakes in the stock. Newport Trust Company LLC acquired a new stake in GE Vernova during the second quarter worth approximately $650,140,000. Bank of New York Mellon Corp acquired a new stake in GE Vernova during the second quarter worth approximately $537,674,000. Price T Rowe Associates Inc. MD acquired a new stake in GE Vernova during the first quarter worth approximately $367,474,000. Marshall Wace LLP acquired a new stake in GE Vernova during the second quarter worth approximately $399,770,000. Finally, Legal & General Group Plc acquired a new stake in GE Vernova during the second quarter worth approximately $293,699,000.

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.