GE Vernova (NYSE:GEV) Trading 5.9% Higher After Analyst Upgrade

GE Vernova Inc. (NYSE:GEV) rose 5.9% during trading on Thursday after Truist Financial raised their price target on the stock from $300.00 to $325.00. Truist Financial currently has a buy rating on the stock. GE Vernova traded as high as $296.52 and last traded at $296.52. Approximately 1,266,538 shares were traded during trading, a decline of 65% from the average daily volume of 3,587,915 shares. The stock had previously closed at $279.88.

GEV has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $285.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday. Barclays lifted their price target on shares of GE Vernova from $300.00 to $320.00 and gave the company an “overweight” rating in a research note on Thursday. Evercore ISI lifted their target price on shares of GE Vernova from $300.00 to $323.00 and gave the stock an “outperform” rating in a research note on Thursday. HSBC reaffirmed a “hold” rating and set a $255.00 target price (up previously from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Finally, Guggenheim assumed coverage on shares of GE Vernova in a research note on Tuesday, September 24th. They set a “buy” rating and a $300.00 target price on the stock. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $261.40.

Institutional Trading of GE Vernova

Several institutional investors and hedge funds have recently bought and sold shares of GEV. Maryland State Retirement & Pension System purchased a new stake in GE Vernova in the 1st quarter valued at about $2,892,000. Boit C F David acquired a new position in GE Vernova in the 1st quarter valued at about $149,000. ANTIPODES PARTNERS Ltd acquired a new position in GE Vernova in the 1st quarter valued at about $30,000. Nwam LLC acquired a new position in GE Vernova in the 1st quarter valued at about $1,531,000. Finally, LRI Investments LLC acquired a new position in GE Vernova in the 1st quarter valued at about $63,000.

GE Vernova Price Performance

The firm has a 50-day simple moving average of $232.95 and a two-hundred day simple moving average of $188.73.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. The firm had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.42 billion. Equities research analysts anticipate that GE Vernova Inc. will post 3.21 earnings per share for the current year.

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.