GE Vernova (NYSE:GEV) Trading Up 5.9% Following Analyst Upgrade

Shares of GE Vernova Inc. (NYSE:GEV) were up 5.9% on Thursday after Truist Financial raised their price target on the stock from $300.00 to $325.00. Truist Financial currently has a buy rating on the stock. GE Vernova traded as high as $296.52 and last traded at $296.52. Approximately 1,266,538 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 3,587,915 shares. The stock had previously closed at $279.88.

A number of other brokerages have also issued reports on GEV. Bank of America raised their price target on GE Vernova from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday. Evercore ISI upped their target price on GE Vernova from $300.00 to $323.00 and gave the stock an “outperform” rating in a research report on Thursday. William Blair began coverage on shares of GE Vernova in a research note on Thursday, August 29th. They set an “outperform” rating on the stock. BMO Capital Markets boosted their price objective on shares of GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Raymond James downgraded shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $261.40.

Institutional Trading of GE Vernova

Institutional investors and hedge funds have recently bought and sold shares of the stock. Castleview Partners LLC acquired a new stake in GE Vernova during the 3rd quarter valued at $28,000. Deseret Mutual Benefit Administrators purchased a new position in GE Vernova during the 2nd quarter valued at about $25,000. Trifecta Capital Advisors LLC acquired a new position in shares of GE Vernova in the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. acquired a new stake in shares of GE Vernova during the second quarter worth approximately $25,000. Finally, Global Trust Asset Management LLC purchased a new position in GE Vernova during the second quarter valued at approximately $26,000.

GE Vernova Trading Up 6.1 %

The stock’s 50-day moving average is $230.78 and its 200 day moving average is $187.97.

GE Vernova (NYSE:GEV) last released its quarterly earnings data 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 firm had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.42 billion. As a group, equities analysts anticipate that GE Vernova Inc. will post 3.21 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.