GE Vernova (NYSE:GEV) Stock Price Up 8.4% on Analyst Upgrade

GE Vernova Inc. (NYSE:GEV) traded up 8.4% during mid-day 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 $175.22 and last traded at $175.22. 1,230,880 shares traded hands during trading, a decline of 76% from the average session volume of 5,099,002 shares. The stock had previously closed at $161.67.

Other analysts have also recently issued reports about the stock. Melius assumed coverage on shares of GE Vernova in a research report on Monday, April 22nd. They set a “hold” rating and a $147.00 target price on the stock. Raymond James began coverage on shares of GE Vernova in a research report on Wednesday, April 17th. They set an “outperform” rating and a $160.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $160.00 price objective on shares of GE Vernova in a research report on Friday, April 12th. Mizuho increased their price objective on shares of GE Vernova from $154.00 to $164.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, BNP Paribas began coverage on shares of GE Vernova in a research report on Wednesday, April 17th. They issued an “outperform” rating and a $177.00 price objective on the stock. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $162.90.

Hedge Funds Weigh In On GE Vernova

Hedge funds have recently added to or reduced their stakes in the stock. ANTIPODES PARTNERS Ltd bought a new position in GE Vernova in the 1st quarter worth about $30,000. LRI Investments LLC bought a new position in GE Vernova in the 1st quarter worth about $63,000. Kozak & Associates Inc. bought a new position in GE Vernova in the 1st quarter worth about $115,000. Boit C F David bought a new position in GE Vernova in the 1st quarter worth about $149,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in GE Vernova in the 1st quarter worth about $478,000.

GE Vernova Price Performance

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Thursday, April 25th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.17). The firm had revenue of $7.26 billion for the quarter, compared to analysts’ expectations of $7.56 billion. As a group, sell-side analysts expect that GE Vernova Inc. will post 2.95 earnings per share for the current 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.