Oppenheimer Raises Numbers On GE (GE)
Oppenheimer today reiterated an Outperform rating on General Electric (NYSE: GE) and raised its price target to $25.00 (from $24.00).
Commenting on GE's Q4 results issued last week, analyst Christopher Glynn said "Industrial OM expansion of 120 bps was broad-based, with Power & Water the most pleasant surprise at 22.8%, up 80 bps y-o-y, on solid services mix and cost productivity."
Analysts anticipate significant 1Q13 revenue contraction in GE's Power & Water segment, but the contraction should be partially offset by healthy margins.
"Along with revenue comparison headwinds at P&W, Transportation organic growth outlook appears challenging, with acqs adding about 10%. We anticipate mix tailwinds to OM at Transportation largely offset by acqs, resulting in flattish OM," added Glynn.
Oppenheimer raised 2013E EPS estimate to $1.65 from $1.63 and announced 2014 EPS estimate of $1.80.
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 $22.01 yesterday, with a 52 week range of $18.02-$23.18.
Commenting on GE's Q4 results issued last week, analyst Christopher Glynn said "Industrial OM expansion of 120 bps was broad-based, with Power & Water the most pleasant surprise at 22.8%, up 80 bps y-o-y, on solid services mix and cost productivity."
Analysts anticipate significant 1Q13 revenue contraction in GE's Power & Water segment, but the contraction should be partially offset by healthy margins.
"Along with revenue comparison headwinds at P&W, Transportation organic growth outlook appears challenging, with acqs adding about 10%. We anticipate mix tailwinds to OM at Transportation largely offset by acqs, resulting in flattish OM," added Glynn.
Oppenheimer raised 2013E EPS estimate to $1.65 from $1.63 and announced 2014 EPS estimate of $1.80.
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 $22.01 yesterday, with a 52 week range of $18.02-$23.18.