GE Vernova (NYSE:GEV) Reaches New 1-Year High After Analyst Upgrade

Shares of GE Vernova Inc. (NYSE:GEV - Get Free Report) hit a new 52-week high 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.

A number of other research analysts also recently weighed in on GEV. The Goldman Sachs Group assumed coverage on GE Vernova in a research note on Tuesday, April 16th. They set a "buy" rating and a $154.00 price target on the stock. BNP Paribas initiated coverage on GE Vernova in a research note on Wednesday, April 17th. They set an "outperform" rating and a $177.00 price target on the stock. Bank of America started coverage on GE Vernova in a research note on Wednesday, April 24th. They issued a "neutral" rating and a $150.00 price objective for the company. Evercore ISI began coverage on GE Vernova in a report on Thursday, April 18th. They set an "outperform" rating and a $174.00 price target for the company. Finally, Morgan Stanley assumed coverage on GE Vernova in a research report on Thursday. They issued an "equal weight" rating and a $167.00 price target for the company. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, GE Vernova currently has a consensus rating of "Moderate Buy" and an average price target of $162.90.

Hedge Funds Weigh In On GE Vernova

Several large investors have recently modified their holdings of the business. ANTIPODES PARTNERS Ltd bought a new position in shares of GE Vernova in the first quarter valued at approximately $30,000. LRI Investments LLC bought a new position in shares of GE Vernova in the first quarter valued at approximately $63,000. Kozak & Associates Inc. bought a new position in shares of GE Vernova in the first quarter valued at approximately $115,000. Boit C F David bought a new position in shares of GE Vernova in the first quarter valued at approximately $149,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of GE Vernova in the first quarter valued at approximately $478,000.

GE Vernova Price Performance

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The company reported ($0.41) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.17). The firm had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.56 billion. On average, equities analysts expect that GE Vernova Inc. will post 2.95 earnings per share 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.