Wolfe Research Sees General Electric (GE) Reporting at the Upper End of FCF Guidance
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Wolfe Research analyst Nigel Coe reiterated an Outperform rating and $138.00 price target on General Electric (NYSE: GE), on an adjusted basis when taking into account the 8 for 1 reverse split.
The analyst stated "we feel comfortable at the upper end of GE’s raised $3.5-5bn FCF range for FY21, which equates to almost $6bn when the full effects of A/R factoring are adjusted out from the equation. This is just a small step from the $7bn anchor for FY23 cash flow expectations and it is worth noting that this would be the highest level of cash flow generation in US Cap Goods. The stock has a strong foundation here in preparation for eventual long haul passenger recovery."
Shares of General Electric closed at $12.95 yesterday.
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