Deutsche Bank Aktiengesellschaft Initiates Coverage on GE Vernova (NYSE:GEV)

Deutsche Bank Aktiengesellschaft initiated coverage on shares of GE Vernova (NYSE:GEV) in a research report issued to clients and investors on Monday, Marketbeat.com reports. The firm set a “buy” rating and a $354.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 28.09% from the company’s current price.

A number of other research firms have also recently weighed in on GEV. Truist Financial assumed coverage on GE Vernova in a report on Thursday, September 26th. They issued a “buy” rating and a $300.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $262.00 price target on shares of GE Vernova in a report on Friday, October 18th. Evercore ISI upped their price target on GE Vernova from $285.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. upped their price target on GE Vernova from $240.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley upped their price target on GE Vernova from $220.00 to $256.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $251.83.

GE Vernova Price Performance

Shares of GEV stock opened at $276.37 on Monday. The stock has a 50 day simple moving average of $228.87 and a 200-day simple moving average of $187.33. GE Vernova has a 12-month low of $115.00 and a 12-month high of $281.37.

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 business had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.42 billion. Sell-side analysts expect that GE Vernova will post 3.21 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. CENTRAL TRUST Co raised its position in shares of GE Vernova by 47.5% in the 3rd quarter. CENTRAL TRUST Co now owns 8,464 shares of the company’s stock worth $2,158,000 after buying an additional 2,726 shares during the period. Global Assets Advisory LLC purchased a new position in shares of GE Vernova in the 3rd quarter worth $531,000. Brighton Jones LLC raised its position in shares of GE Vernova by 21.8% in the 3rd quarter. Brighton Jones LLC now owns 2,562 shares of the company’s stock worth $653,000 after buying an additional 459 shares during the period. International Assets Investment Management LLC raised its position in shares of GE Vernova by 35,238.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock worth $366,098,000 after buying an additional 1,431,729 shares during the period. Finally, Monte Financial Group LLC purchased a new position in shares of GE Vernova in the 3rd quarter worth $236,000.

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.