Oppenheimer Bumps Price Target on GE (GE) to $21

After the close Monday, Oppenheimer raised its price target on General Electric (NYSE: GE) from $20 to $21 while reiterating an Outperform rating following Q4 results on Friday.

The firm is maintaining its 2012 EPS estimates of $1.50, up 10% year-over-year which compares to guidance for double-digits earnings growth.

"We pinpoint our conservatism as modeling 8.5% industrial revenue growth (including nearly 2% from acquisitions), vs. 5-10% industrial organic guidance. Energy orders in 2011 increased 31% y-o-y (9% organic) and O&G by 64% (14% organic), supporting about 114% Energy Infrastructure."

For Q1 they see EPS flat at $0.33, reflecting a tough comparison.

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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