GE Vernova (NYSE:GEV) Sets New 52-Week High on Analyst Upgrade

GE Vernova Inc. (NYSE:GEV)’s stock price hit a new 52-week high during trading on Friday after Evercore ISI raised their price target on the stock from $285.00 to $300.00. Evercore ISI currently has an outperform rating on the stock. GE Vernova traded as high as $259.32 and last traded at $257.88, with a volume of 456006 shares trading hands. The stock had previously closed at $254.68.

GEV has been the topic of several other reports. Citigroup started coverage on GE Vernova in a research report on Tuesday, June 11th. They issued a “neutral” rating and a $183.00 target price on the stock. Daiwa America upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Friday, June 21st. Barclays upped their price objective on shares of GE Vernova from $250.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday. Mizuho raised their target price on shares of GE Vernova from $186.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Hsbc Global Res raised shares of GE Vernova to a “strong-buy” rating in a research note on Monday, August 12th. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price of $234.98.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Deseret Mutual Benefit Administrators purchased a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $25,000. Trifecta Capital Advisors LLC acquired a new stake in shares of GE Vernova in the second quarter worth $25,000. Meeder Asset Management Inc. acquired a new stake in shares of GE Vernova in the second quarter worth $25,000. Global Trust Asset Management LLC purchased a new position in shares of GE Vernova during the second quarter valued at $26,000. Finally, Gradient Investments LLC acquired a new position in GE Vernova during the second quarter valued at $27,000.

GE Vernova Stock Up 2.5 %

The stock has a 50 day moving average price of $203.50.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. The company had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.42 billion. As a group, sell-side analysts anticipate that GE Vernova Inc. will post 2.83 EPS 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.