UBS Analyst Reiterates Buy Rating for General Electric Company (GE)
UBS analyst Shannon O’Callaghan reiterates a Buy rating on General Electric Company (NYSE:GE) with a price target of $37.00, following the company’s 2Q earnings.
O’Callaghan explains, “2Q orders were down 16% organically, driven by a 30% organic decline in equipment orders, but we think investors should consider GE’s lumpy comps. The 2Q organic equipment order comp was +18% but the 3Q comp will be -40%.”
The analyst believes that heavy duty gas turbines are expected to increase 65% in 2H. In addition, he believes that AGP’s are expected to increase over 50% in 2H, “driving a 15% increase in Power organic revenue.”
According to TipRanks, Shannon O’Callaghan is ranked #64 of 4,081 analysts. He maintains a success rate of 79% and realizes an average return of 14.6%. When rating GE, the analyst sustains a success rate of 100% with an average return of 19%.