UPDATE: Gordon Haskett Upgrades General Electric (GE) to Hold, 'Catalysts Sidelined'
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(Updated - February 7, 2020 9:18 AM EST)
(updated to expand analyst comments)
Gordon Haskett analyst John Inch upgraded General Electric (NYSE: GE) from Underperform to Hold and raises their price target to $11 (from $7).
- Steps back to sidelines as the negative catalyst thesis begins to fade away.
"Our upgrade is also anchored in GE having successfully repositioned into a high-level “beat and raise” story, based on GE’s own guidance/inputs, that seems likely to continue throughout 2020. In turn, the financial targets that GE recently laid out for 2020 appear to be readily achievable – particularly given the company’s presumed ability to further dial back cash restructuring outlays, for example."
Shares of General Electric closed at $12.89 yesterday.
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