Multinational conglomerate General Electric Company (GE) on Wednesday caught some further positive commentary from analysts at Oppenheimer.
The firm maintained its “Outperform” rating and lifted its price target from $21 to $24. That new target suggests a 20% upside to the stock’s Tuesday closing price of $20.04.
An Oppenheimer analyst commented, “We calculate about 3c upside to our 2012E, using midpoint of industrial organic growth guidance (5-10%) and guided 50 bps Industrial OM improvement. We also believe that GE Capital’s cyclical recovery drivers could support 4-5c upside to our model, but remain conservative as a margin of error buffer. Industrial OM expansion in 2013 could pace ahead of 50 bps annual target, given GEnx learning curve, maturing acquisition integrations, likely consistent services growth, and HD Turbines operating leverage opportunity.”
General Electric shares posted modest gains in premarket trading Wednesday.
The Bottom Line
We have been recommending shares of General Electric (GE) since Dec.9, 2011, when the stock was trading at $16.80. The company has a 3.39% dividend yield, based on last night’s closing stock price of $20.04.
General Electric Company (GE) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.