In a report released yesterday, Deane Dray from RBC Capital maintained a Buy rating on General Electric (GE), with a price target of $10.00. The company’s shares closed last Wednesday at $7.45.
According to TipRanks.com, Dray is a 4-star analyst with an average return of 1.5% and a 48.9% success rate. Dray covers the Industrial Goods sector, focusing on stocks such as Atkore International Group, Emerson Electric Company, and Honeywell International.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for General Electric with a $12.42 average price target, a 57.4% 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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