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

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

GEV has been the topic of several other research reports. The Goldman Sachs Group boosted their price objective on GE Vernova from $196.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Mizuho boosted their price target on shares of GE Vernova from $186.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Bank of America upgraded shares of GE Vernova from a “neutral” rating to a “buy” rating and upped their price target for the company from $200.00 to $300.00 in a research report on Tuesday, September 17th. HSBC reiterated a “hold” rating and set a $255.00 price objective (up from $240.00) on shares of GE Vernova in a research report on Friday. Finally, BMO Capital Markets initiated coverage on GE Vernova in a report on Friday, September 13th. They issued an “outperform” rating and a $245.00 target price for the company. Seven 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $234.98.

GE Vernova Price Performance

Shares of NYSE GEV opened at $265.59 on Friday. The firm has a 50-day simple moving average of $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 issued its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 EPS for the current year.

Institutional Investors Weigh In On GE Vernova

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