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

GE Vernova Inc. (NYSE:GEV) shares hit a new 52-week high 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.

Several other research firms also recently commented on GEV. Evercore ISI lifted their price objective on shares of GE Vernova from $202.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Daiwa America raised shares of GE Vernova to a “strong-buy” rating in a report on Friday, June 21st. Daiwa Capital Markets began coverage on shares of GE Vernova in a report on Friday, June 21st. They set an “outperform” rating and a $201.50 price objective on the stock. William Blair began coverage on shares of GE Vernova in a report on Thursday, August 29th. They set an “outperform” rating on the stock. Finally, Mizuho boosted their price objective on shares of GE Vernova from $186.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average target price of $219.42.

Institutional Trading of GE Vernova

Several hedge funds have recently made changes to their positions in GEV. Deseret Mutual Benefit Administrators purchased a new position in shares of GE Vernova during the 2nd quarter worth approximately $25,000. Trifecta Capital Advisors LLC purchased a new position in shares of GE Vernova during the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. purchased a new position in shares of GE Vernova during the 2nd quarter worth approximately $25,000. Global Trust Asset Management LLC purchased a new position in shares of GE Vernova during the 2nd quarter worth approximately $26,000. Finally, Gradient Investments LLC purchased a new position in shares of GE Vernova during the 2nd quarter worth approximately $27,000.

GE Vernova Trading Up 3.5 %

The company has a 50-day moving average of $188.08.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 earnings per share 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 analysts’ expectations of $8.42 billion. As a group, analysts predict that GE Vernova Inc. will post 3.02 earnings per share 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.