Wolfe Research Sees General Electric (GE) Reporting at the Upper End of FCF Guidance

August 2, 2021 7:00 AM EDT
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Price: $102.96 +4.49%

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    13 Buy, 13 Hold, 0 Sell

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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."

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 $12.95 yesterday.

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