GE continues to believe that GE Appliances’ customers, consumers and employees will benefit from Electrolux’s commitment to the appliance business and its ability to compete with global competitors.
GE also announced today that it will book a $0.03 per share gain in the second quarter as part of an early settlement related to obligations entered into in the initial NBCUniversal joint venture with Comcast, which was announced in 2011. As a result, GE expects gains to offset restructuring and other charges during the second quarter. (Original Source)
Shares of General Electric closed yesterday at $26.64. GE has a 1-year high of $28.68 and a 1-year low of $23.41. The stock’s 50-day moving average is $27.15 and its 200-day moving average is $25.62.
On the ratings front, General Electric has been the subject of a number of recent research reports. In a report issued on June 26, William Blair analyst Nicholas Heymann reiterated a Hold rating on GE, with a price target of $30, which represents a potential upside of 12.6% from where the stock is currently trading. Separately, on June 18, Deutsche Bank’s John G. Inch maintained a Hold rating on the stock and has a price target of $29.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Nicholas Heymann and John G. Inch have a total average return of -1.5% and 9.3% respectively. Heymann has a success rate of 37.5% and is ranked #2781 out of 3684 analysts, while Inch has a success rate of 76.2% and is ranked #1097.
Overall, 3 research analysts have assigned a Hold rating and 4 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $33.00 which is 23.9% above where the stock closed yesterday.