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

GE Vernova Inc. (NYSE:GEV)’s share price hit a new 52-week high during mid-day trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $163.00 to $176.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. GE Vernova traded as high as $174.37 and last traded at $173.93, with a volume of 1161247 shares traded. The stock had previously closed at $161.67.

GEV has been the subject of several other research reports. Melius began coverage on GE Vernova in a report on Monday, April 22nd. They issued a “hold” rating and a $147.00 price target for the company. Morgan Stanley began coverage on GE Vernova in a research report on Thursday. They issued an “equal weight” rating and a $167.00 price objective on the stock. Raymond James started coverage on shares of GE Vernova in a research note on Wednesday, April 17th. They set an “outperform” rating and a $160.00 price objective on the stock. The Goldman Sachs Group initiated coverage on shares of GE Vernova in a research report on Tuesday, April 16th. They set a “buy” rating and a $154.00 price target on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $160.00 price target on shares of GE Vernova in a research note on Friday, April 12th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average target price of $162.90.

Hedge Funds Weigh In On GE Vernova

Institutional investors and hedge funds have recently bought and sold shares of the stock. LRI Investments LLC acquired a new stake in GE Vernova in the 1st quarter valued at $63,000. Kozak & Associates Inc. acquired a new position in GE Vernova during the first quarter valued at approximately $115,000. Yaupon Capital Management LP bought a new position in shares of GE Vernova during the 1st quarter valued at about $10,256,000. Kinetic Partners Management LP bought a new stake in shares of GE Vernova in the first quarter valued at about $20,854,000. Finally, Steadfast Capital Management LP bought a new stake in GE Vernova during the 1st quarter worth about $80,235,000.

GE Vernova Stock Up 9.7 %

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Thursday, April 25th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.17). The company had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.56 billion. Equities research analysts expect that GE Vernova Inc. will post 2.95 EPS for the current fiscal 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.