General Electric (GE): Cutting Estimates But $2 Still On Target - RBC
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RBC Capital analyst, Deane Dray, reiterated his Outperform rating on shares of General Electric (NYSE: GE) and believes the symbolic $2 EPS target for 2018 is still attainable if you include potential accretion from +$20 bil in available parent leverage. However, slower-growth macro and oil pose stiff near-term operating challenges, necessitating the lowered organic revenue guidance. GE continues to execute well in tough markets and its transformation remains on track.
No change to the price target of $36.
Shares of General Electric closed at $28.98 yesterday.
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