GE Vernova (NYSE:GEV) Stock Price Up 8.4% on Analyst Upgrade

GE Vernova Inc. (NYSE:GEV)’s stock price rose 8.4% 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 $175.22 and last traded at $175.22. Approximately 1,230,880 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 5,099,002 shares. The stock had previously closed at $161.67.

GEV has been the topic of several other research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $160.00 price target on shares of GE Vernova in a report on Friday, April 12th. Evercore ISI initiated coverage on shares of GE Vernova in a report on Thursday, April 18th. They issued an “outperform” rating and a $174.00 target price for the company. Mizuho increased their target price on GE Vernova from $154.00 to $164.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. BNP Paribas initiated coverage on GE Vernova in a report on Wednesday, April 17th. They issued an “outperform” rating and a $177.00 price target on the stock. Finally, Bank of America initiated coverage on shares of GE Vernova in a report on Wednesday, April 24th. They set a “neutral” rating and a $150.00 price objective for the company. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $162.90.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GEV. Price T Rowe Associates Inc. MD acquired a new position in GE Vernova during the 1st quarter worth about $367,474,000. Steadfast Capital Management LP acquired a new stake in GE Vernova in the 1st quarter valued at about $80,235,000. Kinetic Partners Management LP acquired a new stake in GE Vernova in the 1st quarter valued at about $20,854,000. Yaupon Capital Management LP acquired a new stake in GE Vernova in the 1st quarter valued at about $10,256,000. Finally, Maryland State Retirement & Pension System acquired a new stake in GE Vernova in the 1st quarter valued at about $2,892,000.

GE Vernova Stock Up 9.7 %

GE Vernova (NYSE:GEV) last issued its earnings results on Thursday, April 25th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.17). The firm had revenue of $7.26 billion during the quarter, compared to analyst estimates of $7.56 billion. As a group, research analysts forecast 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.