General Electric Company (NYSE:GE) announced that it is working with utility customers in Japan to deliver Turbine Water Lubricated (TWL) pumps manufactured by ClydeUnion Pumps, an SPX brand. The steam powered pumps are designed to ensure emergency reactor cooling in the event of a complete station blackout and can function when fully submerged in water.
GEH has shipped two units to TEPCO’s Kashiwazaki-Kariwa Nuclear Power Plant. Two additional units are scheduled to ship to the plant later this year. GEH has additional commitments to support systems for Chugoku Electric Power Company’s two Shimane plants, and Tohoku Electric Power Company’s Onagawa and Higashidori plants.
“We’re pleased to support the specific needs of our customers in Japan with this reliable safety enhancement,” said Lance Hall, senior vice president, Nuclear Services and Fuels, GEH.
GEH and ClydeUnion Pumps have a teaming agreement to offer the TWL pumps, which feature a unique and compact design, simplified turbine controls, reduced maintenance requirements and the ability to operate with no external electrical power.
As part of this high pressure alternate coolant reactor safety enhancement solution, GEH offers specifications for design, material, fabrication and quality and project management services. (Original Source)
Shares of General Electric closed yesterday at $23.87. GE has a 1-year high of $28.68 and a 1-year low of $19.37. The stock’s 50-day moving average is $26.09 and its 200-day moving average is $26.17.
On the ratings front, General Electric has been the subject of a number of recent research reports. In a report issued on July 20, UBS analyst Shannon O’Callaghan reiterated a Buy rating on GE, with a price target of $32, which represents a potential upside of 34.1% from where the stock is currently trading. Separately, on June 26, William Blair’s Nicholas Heymann reiterated a Hold rating on the stock and has a price target of $30.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Shannon O’Callaghan and Nicholas Heymann have a total average return of 16.4% and -2.5% respectively. O’Callaghan has a success rate of 78.1% and is ranked #94 out of 3730 analysts, while Heymann has a success rate of 33.3% and is ranked #2675.
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 38.2% above where the stock closed yesterday.