Oppenheimer Maintains Positive Stance of General Electric (GE) Following Results
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Analyst at Oppenheimer made positive comments on General Electric (NYSE: GE) following results this morning, reiterating their Outperform rating.
GE reported Q1 EPS of $0.21, 5 cents better than the analyst estimate of $0.16. Revenue for the quarter was $36.6 billion, which compares to the estimate of $37.10 billion.
The firm noted that this was the largest of 5 straight beats for the company on a drop in a provisions. The firm highlighted that loan loss provisions at GE Capital were down 22% sequentially and down 19% versus the average of the last 5 quarters.
Analyst Oppenheimer Christopher Glynn commented, "Given more emphatic improvement at GE Capital, with leading trends in GEC's credit metrics now converting to literal profits not dependent on tax credits, we expect upward trading today and little risk in shares."
GE reported Q1 EPS of $0.21, 5 cents better than the analyst estimate of $0.16. Revenue for the quarter was $36.6 billion, which compares to the estimate of $37.10 billion.
The firm noted that this was the largest of 5 straight beats for the company on a drop in a provisions. The firm highlighted that loan loss provisions at GE Capital were down 22% sequentially and down 19% versus the average of the last 5 quarters.
Analyst Oppenheimer Christopher Glynn commented, "Given more emphatic improvement at GE Capital, with leading trends in GEC's credit metrics now converting to literal profits not dependent on tax credits, we expect upward trading today and little risk in shares."
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