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

GE Vernova Inc. (NYSE:GEV)’s share price reached a new 52-week high during mid-day trading 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. The stock had previously closed at $245.46.

A number of other equities research analysts have also weighed in on the stock. Argus assumed coverage on shares of GE Vernova in a report on Thursday, June 13th. They issued a “buy” rating and a $190.00 price objective on the stock. The Goldman Sachs Group raised their price objective on shares of GE Vernova from $196.00 to $220.00 and gave the company a “buy” rating in a report on Friday, July 26th. BMO Capital Markets began coverage on shares of GE Vernova in a research report on Friday, September 13th. They issued an “outperform” rating and a $245.00 target price on the stock. Evercore ISI increased their target price on shares of GE Vernova from $202.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Finally, Daiwa Capital Markets began coverage on shares of GE Vernova in a research report on Friday, June 21st. They issued an “outperform” rating and a $201.50 target price on the stock. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $219.42.

Institutional Trading of GE Vernova

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Newport Trust Company LLC acquired a new stake in shares of GE Vernova in the second quarter valued at about $650,140,000. Bank of New York Mellon Corp acquired a new stake in shares of GE Vernova in the second quarter valued at about $537,674,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of GE Vernova in the first quarter valued at about $367,474,000. Marshall Wace LLP acquired a new stake in shares of GE Vernova in the second quarter valued at about $399,770,000. Finally, Legal & General Group Plc acquired a new stake in shares of GE Vernova in the second quarter valued at about $293,699,000.

GE Vernova Stock Performance

The company’s 50 day moving average price is $188.08.

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