Goldman Sachs Trims Price Target on General Electric (GE)
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Analysts at Goldman Sachs lowered their price target on General Electric Co. (NYSE: GE) from $16 to $13 following Q2 EPS on Friday. The firm maintained their Neutral rating.
While Goldman's analysts called the Q2 beat "high-quality" they see lower mid-cycle GE Capital EPS and continues to see risk that US financial regulatory reform could prompt a GE Capital spin-off after a five-year transition, which would results in higher taxes and other costs. That said, Goldman said GE Capital is managing the downturn better than expected.
The firm's $13 price target assumes $10 for Industrial and $3 for GE Capital.
Shares of GE are fractionally higher this AM to $11.68.
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