GE Vernova (NYSE:GEV) Stock Price Up 2.9% Following Analyst Upgrade

GE Vernova Inc. (NYSE:GEV) rose 2.9% during trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $330.00 to $356.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. GE Vernova traded as high as $343.06 and last traded at $341.70. Approximately 742,396 shares traded hands during trading, a decline of 78% from the average daily volume of 3,445,816 shares. The stock had previously closed at $331.92.

Several other research firms have also weighed in on GEV. Barclays increased their price target on GE Vernova from $300.00 to $320.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Raymond James lowered GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Royal Bank of Canada increased their price target on GE Vernova from $285.00 to $376.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Guggenheim assumed coverage on GE Vernova in a report on Tuesday, September 24th. They set a “buy” rating and a $300.00 price target on the stock. Finally, HSBC restated a “hold” rating and set a $255.00 price target (up previously from $240.00) on shares of GE Vernova in a report on Friday, October 4th. Seven investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $280.89.

Institutional Investors Weigh In On GE Vernova

Institutional investors have recently added to or reduced their stakes in the stock. Waverton Investment Management Ltd boosted its position in GE Vernova by 10.0% during the third quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock valued at $185,459,000 after purchasing an additional 66,455 shares in the last quarter. Hanlon Investment Management Inc. acquired a new stake in GE Vernova in the third quarter worth about $1,101,000. Atria Investments Inc boosted its holdings in GE Vernova by 127.0% in the third quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock worth $1,297,000 after acquiring an additional 2,847 shares in the last quarter. Aspire Private Capital LLC acquired a new stake in GE Vernova in the second quarter worth about $40,000. Finally, Fractal Investments LLC acquired a new stake in GE Vernova in the third quarter worth about $1,530,000.

GE Vernova Stock Up 3.6 %

The firm has a fifty day simple moving average of $300.97 and a two-hundred day simple moving average of $224.59.

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.