GE Vernova (NYSE:GEV) Trading 2.9% Higher Following Analyst Upgrade

GE Vernova Inc. (NYSE:GEV)’s share price shot up 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. 742,396 shares were traded during trading, a decline of 78% from the average session volume of 3,445,816 shares. The stock had previously closed at $331.92.

Other equities analysts have also issued research reports about the company. Guggenheim assumed coverage on GE Vernova in a research report on Tuesday, September 24th. They issued a “buy” rating and a $300.00 target price for the company. Deutsche Bank Aktiengesellschaft assumed coverage on GE Vernova in a research report on Monday, October 21st. They issued a “buy” rating and a $354.00 target price for the company. Raymond James lowered GE Vernova from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Morgan Stanley boosted their target price on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Barclays boosted their target price on GE Vernova from $300.00 to $320.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $280.89.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Deseret Mutual Benefit Administrators bought a new position in GE Vernova in the 2nd quarter worth approximately $25,000. Trifecta Capital Advisors LLC bought a new position in GE Vernova in the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. bought a new position in GE Vernova in the 2nd quarter worth approximately $25,000. Global Trust Asset Management LLC bought a new position in GE Vernova in the 2nd quarter worth approximately $26,000. Finally, Timber Creek Capital Management LLC bought a new position in GE Vernova in the 2nd quarter worth approximately $27,000.

GE Vernova Stock Up 3.6 %

The company has a 50 day simple moving average of $300.97 and a two-hundred day simple moving average of $224.59.

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.