diff --git a/README b/README
index 67d5d48f9feee1dc6f55c0447a636eaeaeebffe9..20282ee1da350a2e3e36877e2f7379b1502ea096 100644
--- a/README
+++ b/README
@@ -1,4 +1,4 @@
-Ganeti 2.6
+Ganeti 2.7
 ==========
 
 For installation instructions, read the INSTALL and the doc/install.rst
diff --git a/configure.ac b/configure.ac
index 2c93bfc6347b018e7d1adf3d1b3a2368e071a5c6..0683f5fcb8b6465e1234f628ee11bdd760434391 100644
--- a/configure.ac
+++ b/configure.ac
@@ -1,8 +1,8 @@
 # Configure script for Ganeti
 m4_define([gnt_version_major], [2])
-m4_define([gnt_version_minor], [6])
-m4_define([gnt_version_revision], [2])
-m4_define([gnt_version_suffix], [])
+m4_define([gnt_version_minor], [7])
+m4_define([gnt_version_revision], [0])
+m4_define([gnt_version_suffix], [~beta1])
 m4_define([gnt_version_full],
           m4_format([%d.%d.%d%s],
                     gnt_version_major, gnt_version_minor,
diff --git a/doc/design-draft.rst b/doc/design-draft.rst
index 36b052abf02688d5d739575ac05a48d8a62448fa..581a2d43bddcc83f6b0c1ae670ed4dfdc1fbe539 100644
--- a/doc/design-draft.rst
+++ b/doc/design-draft.rst
@@ -2,7 +2,7 @@
 Design document drafts
 ======================
 
-.. Last updated for Ganeti 2.6
+.. Last updated for Ganeti 2.7
 
 .. toctree::
    :maxdepth: 2
diff --git a/doc/hooks.rst b/doc/hooks.rst
index 9c957edf509d1f981a4bd291c0bb0d36308dc337..faf10b82dc2a14154cb5f5172eba114aa04b1dfb 100644
--- a/doc/hooks.rst
+++ b/doc/hooks.rst
@@ -1,7 +1,7 @@
 Ganeti customisation using hooks
 ================================
 
-Documents Ganeti version 2.6
+Documents Ganeti version 2.7
 
 .. contents::
 
diff --git a/doc/iallocator.rst b/doc/iallocator.rst
index 633d5586da9c62edc2e2bdf763871e83365a9301..957c2bb78a429d083a1c2a18203401422da5e46b 100644
--- a/doc/iallocator.rst
+++ b/doc/iallocator.rst
@@ -1,7 +1,7 @@
 Ganeti automatic instance allocation
 ====================================
 
-Documents Ganeti version 2.6
+Documents Ganeti version 2.7
 
 .. contents::
 
diff --git a/doc/security.rst b/doc/security.rst
index 70d1d9556ac584c1e7fb46e49d4dd7c3b918ac98..14e93c4a38270414e6ed84754ca03c20560d39e3 100644
--- a/doc/security.rst
+++ b/doc/security.rst
@@ -1,7 +1,7 @@
 Security in Ganeti
 ==================
 
-Documents Ganeti version 2.6
+Documents Ganeti version 2.7
 
 Ganeti was developed to run on internal, trusted systems. As such, the
 security model is all-or-nothing.
diff --git a/doc/virtual-cluster.rst b/doc/virtual-cluster.rst
index e2c0798d6a838f299bc733490221cd03cd0af2a3..54abd04dfc27af0c827a5bc5a235db6ef071dc4b 100644
--- a/doc/virtual-cluster.rst
+++ b/doc/virtual-cluster.rst
@@ -1,7 +1,7 @@
 Virtual cluster support
 =======================
 
-Documents Ganeti version 2.6
+Documents Ganeti version 2.7
 
 .. contents::
 
diff --git a/tools/cfgupgrade b/tools/cfgupgrade
index 8d97f5c436aca5bafc5cbc7278d5af6a0988b5a1..bccb34e4a80fefdab809f44a9cd174fd149413f2 100755
--- a/tools/cfgupgrade
+++ b/tools/cfgupgrade
@@ -52,7 +52,7 @@ args = None
 #: Target major version we will upgrade to
 TARGET_MAJOR = 2
 #: Target minor version we will upgrade to
-TARGET_MINOR = 6
+TARGET_MINOR = 7
 
 
 class Error(Exception):
@@ -204,8 +204,8 @@ def main():
     raise Error("Inconsistent configuration: found config_version in"
                 " configuration file")
 
-  # Upgrade from 2.0/2.1/2.2/2.3 to 2.4
-  if config_major == 2 and config_minor in (0, 1, 2, 3, 4, 5):
+  # Upgrade from 2.{0..6} to 2.7
+  if config_major == 2 and config_minor in (0, 1, 2, 3, 4, 5, 6):
     if config_revision != 0:
       logging.warning("Config revision is %s, not 0", config_revision)