General Electric Company (NYSE:GE) announced that it will build a new wind education center in Shenyang, China. The approximately 500-square-meter facility will be built on the same campus as GE’s current manufacturing operation in Shenyang. Located in the largest city of Liaoning Province, the new education center will offer a variety of training courses intended for GE field personnel, customer technicians, subcontractors and other external stakeholders.
“As our business continues to grow globally, we’re proud to be investing in the future of the Chinese wind industry,” said Anne McEntee, president and CEO of GE’s renewable energy business. “We are fully committed to this important region, and the addition of more local, technical training will help our customers continue delivering high-quality, reliable power to China in the years ahead.”
Courses offered at the wind education center in Shenyang will focus on topics like wind turbine maintenance, troubleshooting and environmental health and safety (EHS). EHS training at the new center will adhere to common standards set by the Global Wind Organization (GWO). The center will also offer some non-technical skills training courses including sessions on leadership, strategy and career development.
Construction of the wind education center is scheduled to begin later this year, and the facility is expected to open in early 2016. (Original Source)
Shares of General Electric closed yesterday at $26.47. 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 $27.10 and its 200-day moving average is $25.71.
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 13.3% 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 -1.4% and 12.8% respectively. Heymann has a success rate of 37.5% and is ranked #2790 out of 3692 analysts, while Inch has a success rate of 83.3% and is ranked #776.
The street is mostly Bullish on GE stock. Out of 7 analysts who cover the stock, 4 suggest a Buy rating and 3 recommend to Hold the stock. The 12-month average price target assigned to the stock is $33.00, which implies an upside of 24.7% from current levels.