GE Vernova (NYSE:GEV) Reaches New 1-Year High on Analyst Upgrade

GE Vernova Inc. (NYSE:GEV)’s stock price reached a new 52-week high on Monday after Jefferies Financial Group raised their price target on the stock from $261.00 to $293.00. Jefferies Financial Group currently has a buy rating on the stock. GE Vernova traded as high as $252.00 and last traded at $251.57, with a volume of 87277 shares changing hands. The stock had previously closed at $245.46.

Other analysts have also issued research reports about the company. Argus initiated coverage on GE Vernova in a research note on Thursday, June 13th. They issued a “buy” rating and a $190.00 target price on the stock. Evercore ISI increased their target price on GE Vernova from $202.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. increased their target price on GE Vernova from $216.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Mizuho increased their target price on GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Morgan Stanley increased their target price on GE Vernova from $220.00 to $256.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $223.66.

Institutional Trading of GE Vernova

Institutional investors have recently made changes to their positions in the company. Aspire Private Capital LLC acquired a new stake in shares of GE Vernova in the second quarter worth approximately $40,000. GAMMA Investing LLC acquired a new stake in shares of GE Vernova in the second quarter worth approximately $776,000. Sequoia Financial Advisors LLC acquired a new stake in shares of GE Vernova in the second quarter worth approximately $2,724,000. Parsons Capital Management Inc. RI acquired a new stake in shares of GE Vernova in the second quarter worth approximately $275,000. Finally, Armstrong Henry H Associates Inc. acquired a new stake in shares of GE Vernova in the second quarter worth approximately $523,000.

GE Vernova Price Performance

The company has a 50 day moving average of $191.02.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.42 billion. As a group, research analysts predict that GE Vernova Inc. will post 3.02 EPS for the current fiscal year.

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.