RBC Capital analyst Deane Dray upgraded General Electric (NYSE: GE) from Sector Perform to Outperform with a price target of $15.00 (from $13.00).

The analyst comments "We are upgrading GE from Sector Perform to Outperform on the news of Larry Culp being named Chairman & CEO. There’s still much to fix, and it will take time to assemble his team, ramp/triage the problems, and put his imprint on the breakup plan. But, we believe that a floor has now been put in."

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Shares of General Electric closed at $12.09 yesterday.