---
title: "Weekly Recap | GE Vernova +3.24%, first SMR permit approved"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/300848147.md"
description: "GE Vernova (GEV) rose 3.24% this week to close at $988.70, against a 0.27% drop for the S&P 500, outperforming by about 3.51 percentage points. The week started soft: Monday opened at $953.22 and drifted lower, with Wednesday closing at $950.49. Thursday brought heavy volume of 3.0 million shares and a close at $987.45, followed by Friday’s intraday high of $1,006 before easing back to $988.70. The weekly range was 6.71%, a choppy grind higher."
datetime: "2026-10-03T06:51:11.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/300848147.md)
  - [en](https://longbridge.com/en/news/300848147.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/300848147.md)
generator: "portal-rs"
---

# Weekly Recap | GE Vernova +3.24%, first SMR permit approved

## The Week

GE Vernova (GEV) rose 3.24% this week to close at $988.70, against a 0.27% drop for the S&P 500, outperforming by about 3.51 percentage points. The week started soft: Monday opened at $953.22 and drifted lower, with Wednesday closing at $950.49. Thursday brought heavy volume of 3.0 million shares and a close at $987.45, followed by Friday’s intraday high of $1,006 before easing back to $988.70. The weekly range was 6.71%, a choppy grind higher.

## Key Events

The week’s central story was the first US construction permit for a small modular reactor. On 30 September the NRC issued the first US construction permit for the GE Vernova Hitachi BWRX-300 SMR at the TVA Clinch River site, and the theme carried into Thursday. Elsewhere, the company announced a supply deal for an electric arc furnace at Nippon Steel’s Yawata Works and declared a fourth-quarter 2026 dividend. Media coverage kept circling AI power demand: on 1 October reports said data-centres were choosing faster turbines and the stock slipped briefly, before rebounding the next day as AI power buyers favoured speed.

## Analyst Ratings

Of 39 institutions covering the name, 30 rate it buy or overweight, 7 rate it hold, none rate it underweight or sell, and 2 have no opinion. The consensus is a buy with a target of $1,230.34, about 24.44% above the last price. Targets range from $940 to $1,450, pointing to wide disagreement on valuation. GEV ranks first among 20 heavy electrical equipment names in the industry ratings table.

## The Week Ahead

The macro calendar includes the S&P Global Services PMI final (prior 58.7) and ISM Non-Manufacturing PMI (prior 55.4, consensus 55) on 5 October, followed by international trade and goods trade balance data on 6 October. Beyond macro releases, the market will watch how the newly permitted SMR project progresses and whether AI power buyers continue to firm up orders.

## In Short

The week set up a clear tension: the first SMR construction permit and the AI power narrative pushed the stock higher on rising volume toward the $1,000 mark, yet the wide $940–$1,450 target range shows brokers do not agree on the pace of valuation. On the latest session, large-lot money was a net seller of about $0.97 million, while the medium and small categories were net buyers of roughly $74 million combined, a split in positioning. What matters next is whether AI power orders keep landing, and how macro PMI readings affect a name trading at 27.6x earnings and 22x book.

*This article is generated by LongbridgeAI from market data, for information only and not investment advice.*

### Related Stocks

- [GEV.US](https://longbridge.com/en/quote/GEV.US.md)
- [GEVX.US](https://longbridge.com/en/quote/GEVX.US.md)

## Related News & Research

- [GE Vernova's CEO Just Delivered Great News to Shareholders](https://longbridge.com/en/news/300650825.md)
- [NRC issues first US construction permit for GE Vernova Hitachi BWRX-300 SMR at TVA Clinch River site](https://longbridge.com/en/news/300469792.md)
- [US NRC approves construction of nation's first small modular nuclear reactor](https://longbridge.com/en/news/300467195.md)
- [GE Vernova (GEV) Could Be 25% Undervalued After Record Backlog And Electrification Wins](https://longbridge.com/en/news/299964121.md)
- [Mersen partners with GE Vernova to boost power grid stability](https://longbridge.com/en/news/299664210.md)

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**