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Wells Fargo Remains a Buy on GE Vernova Inc. (GEV)

Tipranks - Tipranks - Fri May 29, 5:32AM CDT

In a report released today, Michael Blum from Wells Fargo maintained a Buy rating on GE Vernova Inc., with a price target of $1,259.00.

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According to TipRanks, Blum is a 5-star analyst with an average return of 15.5% and a 70.00% success rate. Blum covers the Energy sector, focusing on stocks such as Cheniere Energy, Cheniere Energy Partners, and Archrock.

In a report released yesterday, Bank of America Securities also reiterated a Buy rating on the stock with a $1,310.00 price target.

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Based on GE Vernova Inc.’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $9.34 billion and a net profit of $4.75 billion. In comparison, last year the company earned a revenue of $8.04 billion and had a net profit of $254 million

Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GEV in relation to earlier this year. Earlier this month, Matthew Joseph Potvin, the CAO of GEV sold 2,333.00 shares for a total of $2,470,856.97.

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