General Electric Company (NYSE:GE) announced that Rafael Santana, president and CEO of GE Latin America, has been named president and CEO of GE Transportation, effective November 1, 2017.
With over 17 years of GE experience, Santana has held leadership positions in GE Oil & Gas, Power and Transportation before becoming the President & CEO of GE in Latin America. In his current role, he worked closely with the regional business leaders to make Latin America one of GE’s largest and fastest-growing regions. Prior to joining GE, Santana held leadership roles at ExxonMobil and British American Tobacco.
John Flannery, chairman and CEO of GE, said, “Rafael has deep roots in GE Transportation, having spent eight years in a variety of commercial and product management roles, as well as leading the Transportation team in Latin America. His experience helping teams navigate through this tough market, combined with his deep global, operational, services and industrial experience make him the perfect fit for this role. I look forward to working with him closely.”
Rafael Santana will succeed Jamie Miller, who will become chief financial officer of GE on November 1, 2017.
Shares of General Electric are currently trading at $23.11, up $0.14 or 0.59%. GE has a 1-year high of $32.38 and a 1-year low of $22.83. The stock’s 50-day moving average is $24.25 and its 200-day moving average is $26.74.
On the ratings front, GE stock has been the subject of a number of recent research reports. In a report issued on October 11, RBC analyst Deane Dray reiterated a Buy rating on GE, with a price target of $27, which represents a potential upside of 17% from where the stock is currently trading. Separately, on October 9, Stifel Nicolaus’ Robert McCarthy reiterated a Buy rating on the stock and has a price target of $26.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Deane Dray and Robert McCarthy have a yearly average return of 7.0% and 12.7% respectively. Dray has a success rate of 67% and is ranked #433 out of 4697 analysts, while McCarthy has a success rate of 80% and is ranked #291.
Overall, 2 research analysts have rated the stock with a Sell rating, 4 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 $25.67 which is 12% above where the stock closed on Friday.