GE Vernova (NYSE:GEV) Reaches New 1-Year High on Analyst Upgrade

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

A number of other equities research analysts also recently commented on the company. Mizuho lifted their target price on GE Vernova from $186.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Royal Bank of Canada lifted their target price on GE Vernova from $192.00 to $246.00 and gave the company an “outperform” rating in a research report on Tuesday, September 17th. Daiwa Capital Markets started coverage on GE Vernova in a research report on Friday, June 21st. They issued an “outperform” rating and a $201.50 target price on the stock. Redburn Atlantic started coverage on GE Vernova in a research report on Tuesday, July 2nd. They issued a “neutral” rating and a $178.00 target price on the stock. Finally, Citigroup started coverage on GE Vernova in a report on Tuesday, June 11th. They issued a “neutral” rating and a $183.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $223.66.

Institutional Investors Weigh In On GE Vernova

Large investors have recently bought and sold shares of the stock. Newport Trust Company LLC acquired a new position in shares of GE Vernova during the 2nd quarter worth about $650,140,000. Bank of New York Mellon Corp acquired a new position in shares of GE Vernova during the 2nd quarter worth about $537,674,000. Price T Rowe Associates Inc. MD acquired a new position in shares of GE Vernova during the 1st quarter worth about $367,474,000. Marshall Wace LLP acquired a new position in shares of GE Vernova during the 2nd quarter worth about $399,770,000. Finally, Legal & General Group Plc acquired a new position in shares of GE Vernova during the 2nd quarter worth about $293,699,000.

GE Vernova Stock Up 1.6 %

The company has a 50-day moving average price of $191.02.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate 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. Research analysts predict that GE Vernova Inc. will post 3.02 EPS for the current 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.