Headquartered in Cambridge, Massachusetts, GE Vernova Inc. (GEV) is a global provider of energy technologies and solutions. With a market cap of $45.52 billion, GE Vernova is at the forefront of developing innovative renewable energy technologies, efficient power generation, and grid modernization. Known for its commitment to sustainability and reducing carbon emissions, GE Vernova leverages its expertise to deliver advanced solutions that power homes and businesses worldwide, playing a critical role in shaping the future of energy.
GEV shares have underperformed the broader market over the past three months. GEV has declined marginally over this time frame, while the broader S&P 500 Index ($SPX) has gained marginally.
Zooming in further, GEV has underperformed the iShares Global Clean Energy ETF (ICLN) over the same time frame. The exchange-traded fund has declined about 2.1% over this period.
On Jul. 24, GEV’s shares declined more than 4% following the release of its Q2 earnings report. The company missed earnings and revenue estimates for the quarter. On Jul. 1, GEV shares fell over 1% after Pekao Investment Banking initiated coverage with a sell rating and a $128 price target.
For the current fiscal year, ending in December, analysts expect GEV's EPS to decline 99.6% year over year to $3.56 on a diluted basis. The company's earnings surprise history is mixed. It beat the consensus estimate in one of the last two quarters while missing the forecast on another occasion.
Among the 14 analysts covering GEV stock, the consensus rating is a “Moderate Buy.” That’s based on eight “Strong Buys,” two “Moderate Buys” ratings, and four “Holds.”
This configuration is more bullish than three months ago, with five analysts suggesting a “Strong Buy.”
On Jul. 22, RBC Capital analyst Chris Dendrinos maintained a “Buy” rating on GE Vernova, with a price target of $180, implying a potential upside of 8.4% from current levels.
The mean price target of $196.27 represents an 18.2% premium to GEV’s current price levels. The Street-high price target of $220 suggests an upside potential of 32.5%.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
