GE Vernova (NYSE:GEV) Trading Up 3.5% on Analyst Upgrade

GE Vernova Inc. (NYSE:GEV)’s stock price was up 3.5% on Friday after Morgan Stanley raised their price target on the stock from $301.00 to $367.00. Morgan Stanley currently has an overweight rating on the stock. GE Vernova traded as high as $337.56 and last traded at $337.51. Approximately 801,394 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 3,511,591 shares. The stock had previously closed at $326.04.

A number of other research firms have also weighed in on GEV. Evercore ISI boosted their target price on GE Vernova from $300.00 to $323.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Jefferies Financial Group increased their price objective on GE Vernova from $293.00 to $336.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft began coverage on shares of GE Vernova in a report on Monday, October 21st. They issued a “buy” rating and a $354.00 price objective for the company. Barclays raised their target price on GE Vernova from $300.00 to $320.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Bank of America raised their price objective on GE Vernova from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $264.55.

Hedge Funds Weigh In On GE Vernova

Institutional investors have recently added to or reduced their stakes in the company. LRI Investments LLC bought a new stake in GE Vernova during the first quarter worth approximately $63,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of GE Vernova during the first quarter valued at $367,474,000. Steadfast Capital Management LP bought a new position in shares of GE Vernova in the first quarter worth about $80,235,000. Kinetic Partners Management LP purchased a new position in shares of GE Vernova during the first quarter worth approximately $20,854,000. Finally, Yaupon Capital Management LP purchased a new position in GE Vernova during the 1st quarter worth $10,256,000.

GE Vernova Stock Performance

The firm has a 50 day moving average price of $273.49 and a 200 day moving average price of $208.44.

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.