GE Vernova (NYSE:GEV) Shares Gap Up After Analyst Upgrade

Shares of GE Vernova Inc. (NYSE:GEV) gapped up prior to trading on Friday after Evercore ISI raised their price target on the stock from $174.00 to $202.00. The stock had previously closed at $160.00, but opened at $168.46. Evercore ISI currently has an outperform rating on the stock. GE Vernova shares last traded at $168.92, with a volume of 182,227 shares traded.

Several other equities analysts have also commented on the company. Daiwa Capital Markets started coverage on GE Vernova in a research note on Friday, June 21st. They issued an “outperform” rating and a $201.50 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $180.00 price objective on shares of GE Vernova in a report on Monday. Citigroup started coverage on shares of GE Vernova in a report on Tuesday, June 11th. They issued a “neutral” rating and a $183.00 target price for the company. Melius initiated coverage on shares of GE Vernova in a research note on Monday, April 22nd. They set a “hold” rating and a $147.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on shares of GE Vernova from $195.00 to $216.00 and gave the company an “overweight” rating in a research note on Thursday. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.39.

Institutional Trading of GE Vernova

A number of institutional investors have recently added to or reduced their stakes in the business. Global Trust Asset Management LLC acquired a new position in shares of GE Vernova during the second quarter worth $26,000. Gradient Investments LLC bought a new stake in shares of GE Vernova in the second quarter worth $27,000. Timber Creek Capital Management LLC acquired a new stake in GE Vernova in the second quarter valued at $27,000. First Community Trust NA bought a new position in GE Vernova during the 2nd quarter valued at $29,000. Finally, SOA Wealth Advisors LLC. acquired a new position in GE Vernova during the 2nd quarter worth $32,000.

GE Vernova Trading Up 6.4 %

The firm has a 50-day moving average price of $171.50.

GE Vernova (NYSE:GEV) last announced 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 company had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.56 billion. On average, sell-side analysts anticipate that GE Vernova Inc. will post 3.03 earnings per share for the current 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.