UPDATE: Gordon Haskett Upgrades General Electric (GE) to Hold, 'Catalysts Sidelined'

February 7, 2020 5:44 AM EST
Get Alerts GE Hot Sheet
Price: $104.05 +0.87%

Rating Summary:
    13 Buy, 14 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 16 | Down: 18 | New: 32
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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."

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 $12.89 yesterday.

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