Nomura Positive on General Electric (GE) as Shares Remain Pressured

Last week General Electric (NYSE: GE) reported third-quarter adjusted EPS of 36 cents and revenue of $36.4 billion. Since then, the stock has been under pressure, but analysts at Nomura Securities remain optimistic and see upside of around 9 percent.

"Segment profit came in a little light of our estimates, offset by lower corporate, which is not great, but GE checked the important boxes in the quarter with industrial margins turning positive, order growth ex-wind ex-fx up 4%, and GE Capital declining to 44% of earnings," said analyst Shannon O'Callaghan.

"In total, there were some puts and takes in the quarter, but industrial margins (going up) and GE Capital earnings mix (going down) are both headed in right direction, in our view," he added.

Nomura Securities has a Buy rating on General Electric (NYSE: GE) with revised price target of $24.00 (from $25.00).

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 $22.03 yesterday.

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