General Electric (GE) PT Raised At RBC After 2019 Outlook Call

RBC Capital analyst, Deane Dray,reiterated his Outperform rating on shares of General Electric (NYSE: GE) and raised the price target to $13.00 (from $12.00) after the CEO, Larry Culp, hosted a highly anticipated Outlook Call to unveil his 2019 guidance framework and preliminary targets for 2020-2021. The company committed to realistic targets for the 2019 “reset year”, with assurances of
a meaningful FCF ramp in 2020/2021 driven by industrial. The company also re-committed to its targets for <2.5x industrial net debt/EBITDA and <4x GE Capital debt/equity which the analyst thinks can be achieved by 2020.

The analyst stated "Positives included line-of-sight on a significant recovery in industrial FCF in 2020-2021, reiterated deleveraging targets, as-expected Power update, and continued strength in
Aviation. GE’s turnaround may be a “game of inches”, but we believe that Mr. Culp’s leadership measures up to the task ahead".

For an analyst ratings summary and ratings history on General Electric click here. For more ratings news on General Electric click here.

Shares of General Electric closed at $10.31 yesterday.

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