Nomura Securities Maintains a 'Buy' on General Electric (GE); 4Q Review

Nomura Securities maintains a 'Buy' on General Electric (NYSE: GE) price target raised from $20 to $21.

Analyst, Shannon O'Callaghan, said, "GE posted slight upside in 4Q, mainly from GE Capital. GECS showed broad strength, with excess capital continuing to build, while Industrial was fine in aggregate with a mixed story in Energy where revenues were light but margins were better. Energy unit orders were better, but pricing was still tough. GECS Tier 1 rose to 9.9%, commercial real estate liquidity is improving, and GE is shrinking GECS more (taking the 2012 ENI target to $425-440B from $440B), all positives, in our view. We raise our 2012 EPS estimate by a nickel to $1.55 and our price target to $21 (P/E assumption up half a point to 13.5x, reflecting increased industrial and finance multiples)."

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 $19.15 yesterday.

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