GE Vernova (NYSE:GEV) Reaches New 12-Month High Following Analyst Upgrade

Shares of GE Vernova Inc. (NYSE:GEV - Get Free Report) reached a new 52-week high during mid-day 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 a number of other research reports. Hsbc Global Res raised GE Vernova to a "strong-buy" rating in a research note on Monday, August 12th. Morgan Stanley lifted their price target on GE Vernova from $220.00 to $256.00 and gave the company an "overweight" rating in a report on Friday, September 13th. William Blair began coverage on shares of GE Vernova in a report on Thursday, August 29th. They set an "outperform" rating on the stock. Redburn Atlantic initiated coverage on shares of GE Vernova in a report on Tuesday, July 2nd. They issued a "neutral" rating and a $178.00 target price for the company. Finally, Truist Financial assumed coverage on shares of GE Vernova in a research report on Thursday, September 26th. They set a "buy" rating and a $300.00 price target for the company. Six equities 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $234.98.

Institutional Trading of GE Vernova

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

GE Vernova Stock Up 2.5 %

The company's fifty day moving average is $203.50.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.02. The company had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.42 billion. On average, sell-side analysts predict that GE Vernova Inc. will post 2.83 EPS for the current fiscal 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.

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