GE Vernova (NYSE:GEV) Hits New 1-Year High Following Analyst Upgrade

GE Vernova Inc. (NYSE:GEV) hit a new 52-week high during trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $163.00 to $176.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. GE Vernova traded as high as $174.37 and last traded at $173.93, with a volume of 1161247 shares trading hands. The stock had previously closed at $161.67.

A number of other research analysts have also recently commented on GEV. Mizuho increased their price target on shares of GE Vernova from $154.00 to $164.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Evercore ISI initiated coverage on GE Vernova in a research note on Thursday, April 18th. They set an “outperform” rating and a $174.00 price objective for the company. The Goldman Sachs Group initiated coverage on GE Vernova in a research note on Tuesday, April 16th. They set a “buy” rating and a $154.00 price objective for the company. Morgan Stanley initiated coverage on GE Vernova in a research note on Thursday. They set an “equal weight” rating and a $167.00 price objective for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $160.00 price objective on shares of GE Vernova in a research note on Friday, April 12th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $162.90.

Institutional Trading of GE Vernova

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. ANTIPODES PARTNERS Ltd purchased a new position in GE Vernova during the first quarter valued at $30,000. LRI Investments LLC purchased a new position in GE Vernova during the first quarter valued at $63,000. Kozak & Associates Inc. purchased a new position in GE Vernova during the first quarter valued at $115,000. Boit C F David purchased a new position in GE Vernova during the first quarter valued at $149,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in GE Vernova during the first quarter valued at $478,000.

GE Vernova Trading Up 9.8 %

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Thursday, April 25th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.17). The firm had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.56 billion. On average, analysts forecast that GE Vernova Inc. will post 2.95 EPS for the current year.

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.