GE Vernova (NYSE:GEV) Sets New 1-Year High After Analyst Upgrade

GE Vernova Inc. (NYSE:GEV)’s stock price reached a new 52-week high on Friday after The Goldman Sachs Group raised their price target on the stock from $220.00 to $308.00. The Goldman Sachs Group currently has a buy rating on the stock. GE Vernova traded as high as $270.11 and last traded at $268.64, with a volume of 785186 shares traded. The stock had previously closed at $264.62.

A number of other analysts have also weighed in on the stock. Jefferies Financial Group raised their price objective on shares of GE Vernova from $261.00 to $293.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Argus assumed coverage on GE Vernova in a research note on Thursday, June 13th. They set a “buy” rating and a $190.00 target price on the stock. Hsbc Global Res cut GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Morgan Stanley increased their price objective on GE Vernova from $220.00 to $256.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Finally, Raymond James lowered GE Vernova from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $241.63.

Hedge Funds Weigh In On GE Vernova

A number of hedge funds and other institutional investors have recently modified their holdings of GEV. Anderson Hoagland & Co. purchased a new stake in GE Vernova in the 1st quarter worth $1,720,000. Maryland State Retirement & Pension System purchased a new stake in shares of GE Vernova in the first quarter worth about $2,892,000. Boit C F David bought a new position in GE Vernova during the first quarter valued at approximately $149,000. ANTIPODES PARTNERS Ltd purchased a new position in GE Vernova during the 1st quarter valued at approximately $30,000. Finally, Nwam LLC bought a new stake in GE Vernova in the 1st quarter worth approximately $1,531,000.

GE Vernova Price Performance

The firm has a fifty day moving average of $212.76.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.42 billion. Analysts predict that GE Vernova Inc. will post 3.21 EPS 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.