In a report released yesterday, Julian Mitchell from Barclays maintained a Buy rating on General Electric (GE), with a price target of $10.00. The company’s shares closed last Monday at $7.56.
According to TipRanks.com, Mitchell is a 5-star analyst with an average return of 5.1% and a 60.9% success rate. Mitchell covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Honeywell International, and Rockwell Automation.
General Electric has an analyst consensus of Moderate Buy, with a price target consensus of $12.65, a 69.8% upside from current levels. In a report issued on March 17, Morgan Stanley also maintained a Buy rating on the stock with a $9.00 price target.
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Based on General Electric’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $26.24 billion and net profit of $728 million. In comparison, last year the company earned revenue of $26.5 billion and had a net profit of $761 million.
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General Electric Co. is a technology and financial services company. It operates through the following segments: Power, Renewable Energy, Aviation, Healthcare, and Capital. The Power segment offers technologies, solutions, and services related to energy production, which includes gas and steam turbines, generators, and power generation services. The Renewable Energy segment provides wind turbine platforms, hardware & software, offshore wind turbines, solutions, products & services to hydropower industry, blades for onshore & offshore wind turbines, and high voltage equipment. The Aviation segment provides jet engines & turboprops for commercial airframes, maintenance, component repair, and overhaul services, as well as replacement parts, additive machines & materials, and engineering services. The Healthcare segment provides healthcare technologies in medical imaging, digital solutions, patient monitoring, and diagnostics, drug discovery, biopharmaceutical manufacturing technologies and performance enhancement solutions. The Capital segment leases & finances aircraft, aircraft engines and helicopters, and also provides financial and underwriting solutions. The company was founded by Thomas Alva Edison in 1878 and is headquartered in Boston, MA.
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