GE Vernova (NYSE:GEV) Downgraded by Hsbc Global Res to “Hold”

GE Vernova (NYSE:GEV) was downgraded by research analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a report issued on Friday, Zacks.com reports.

A number of other equities research analysts have also weighed in on GEV. Argus assumed coverage on shares of GE Vernova in a report on Thursday, June 13th. They set a “buy” rating and a $190.00 target price on the stock. Redburn Atlantic assumed coverage on shares of GE Vernova in a report on Tuesday, July 2nd. They set a “neutral” rating and a $178.00 target price on the stock. Evercore ISI boosted 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. JPMorgan Chase & Co. boosted their target price on shares of GE Vernova from $216.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Finally, Raymond James lowered shares of GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $234.98.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $265.59 on Friday. The firm’s 50 day moving average is $205.35. GE Vernova has a 1 year low of $115.00 and a 1 year high of $266.42.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, beating 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 forecast that GE Vernova will post 2.83 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Deseret Mutual Benefit Administrators bought a new stake in GE Vernova during the 2nd quarter valued at $25,000. Trifecta Capital Advisors LLC bought a new stake in GE Vernova during the 2nd quarter valued at $25,000. Meeder Asset Management Inc. bought a new stake in GE Vernova during the 2nd quarter valued at $25,000. Global Trust Asset Management LLC bought a new stake in GE Vernova during the 2nd quarter valued at $26,000. Finally, Timber Creek Capital Management LLC bought a new stake in GE Vernova during the 2nd quarter valued at $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.