General Electric (GE): Possible 2Q08 earnings upside trade - Merrill Lynch
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From Notable Calls
Merrill Lynch reiterates their Buy rating on GE (NYSE: GE) with PT $37.50.
Firm thinks GE will likely deliver 2Q08 EPS results in-line with the previous guidance of 53-55 cents – this event could present a positive upside trading catalyst for GE’s shares. They believe GE would have pre-announced an earnings shortfall rather than risk even greater investor backlash from reporting a miss the day of the earnings release. After 2Q08, earnings comparisons start to ease. GE has already materially lowered guidance for the full year and consensus expectations have declined substantially since mid-April. Firm believes the impact of higher loss provisions, lower securitization gains, and slower Real Estate markets are part of the company’s previous guidance.
Notablecalls: Ah, lovely. Just what we need this morning. GE's a buy here for sure. The co already lowered the bar and has traded down significantly from here. I'm betting the stock will surpass the $27 level in the s-t.
Calling it Actionable Trading Call
For more calls go to http://notablecalls.blogspot.com/
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