GE Vernova (NYSE:GEV) Trading Up 0.6% Following Analyst Upgrade

GE Vernova Inc. (NYSE:GEV)’s stock price traded up 0.6% during trading on Thursday 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 $169.00 and last traded at $164.90. 954,766 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 5,145,102 shares. The stock had previously closed at $163.85.

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

Institutional Trading of GE Vernova

A number of institutional investors and hedge funds have recently bought and sold shares of the company. ANTIPODES PARTNERS Ltd bought a new stake in shares of GE Vernova in the first quarter worth approximately $30,000. LRI Investments LLC purchased a new position in shares of GE Vernova during the first quarter valued at approximately $63,000. Kozak & Associates Inc. purchased a new position in shares of GE Vernova during the first quarter valued at approximately $115,000. Boit C F David purchased a new position in shares of GE Vernova during the first quarter valued at approximately $149,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of GE Vernova during the first quarter valued at approximately $478,000.

GE Vernova Price Performance

GE Vernova (NYSE:GEV) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $7.56 billion. Equities research analysts forecast that GE Vernova Inc. will post 2.95 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.