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

GE Vernova Inc. (NYSE:GEV) shares traded up 3.5% during mid-day trading 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. 801,394 shares traded hands during trading, a decline of 77% from the average session volume of 3,511,591 shares. The stock had previously closed at $326.04.

A number of other brokerages have also commented on GEV. BMO Capital Markets increased their price target on GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Truist Financial increased their price target on shares of GE Vernova from $300.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft began coverage on GE Vernova in a research note on Monday, October 21st. They set a “buy” rating and a $354.00 price objective on the stock. Oppenheimer began coverage on GE Vernova in a research note on Thursday, September 26th. They issued a “market perform” rating for the company. Finally, Jefferies Financial Group lifted their target price on GE Vernova from $293.00 to $336.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Seven equities research 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 company. According to data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and a consensus target price of $264.55.

Institutional Investors Weigh In On GE Vernova

Several hedge funds have recently made changes to their positions in the company. Pittenger & Anderson Inc. raised its holdings in shares of GE Vernova by 28.0% in the third quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock valued at $41,000 after acquiring an additional 35 shares in the last quarter. SteelPeak Wealth LLC raised its holdings in shares of GE Vernova by 2.5% in the 3rd quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company’s stock valued at $400,000 after purchasing an additional 38 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of GE Vernova by 0.9% in the 3rd quarter. Global Retirement Partners LLC now owns 4,507 shares of the company’s stock worth $1,149,000 after purchasing an additional 40 shares during the period. Whittier Trust Co. boosted its stake in shares of GE Vernova by 1.9% during the third quarter. Whittier Trust Co. now owns 2,106 shares of the company’s stock valued at $537,000 after purchasing an additional 40 shares in the last quarter. Finally, Rosenberg Matthew Hamilton increased its holdings in GE Vernova by 30.3% during the third quarter. Rosenberg Matthew Hamilton now owns 185 shares of the company’s stock valued at $47,000 after buying an additional 43 shares during the period.

GE Vernova Stock Up 3.5 %

The business’s 50 day moving average is $270.87 and its 200 day moving average is $207.25.

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.