Citigroup reported that they have maintained their current
rating on General Electric Company(
) and have lowered its price target Friday.
The firm has reported that they are reaffirming a "Buy" rating
for GE, and have cut its price target from $25 to $24. This price
target suggests a 16.6% increase over the stock's current price of
An analyst from the firm commented, "we are lowering our
estimate from $1.75 to $1.70 to reflect weaker end markets and
organic revenue growth next year, plus a more conservative forecast
for GECC. Our estimates incorporate 96 bps of operating margin
expansion from 2011 to 2013, consistent with its target for 80-120
bps over this two-year period. Our 2013 estimate incorporates a 3%
increase in GECC net income and a 12% increase in GE Industrial
operating profit for total EPS growth of 13% (including the impact
General Electric shares were mostly flat during Friday morning
trading. The stock is up 11.73% YTD.
The Bottom Line
Shares of General Electric (
) have a 3.39% dividend yield, based on last night's closing stock
price of $20.06. The stock has technical support in the $18-$19
price area. If the shares can firm up, we see overhead resistance
around the $22-$23 price levels.
General Electric Company(
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
Be sure to visit our complete recommended list of the
Best Dividend Stocks
, as well as a detailed explanation of
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