General Electric’s Estimates Cut at Bank of America/Merrill Lynch on Pension Cost Concerns (GE)

By Staff,

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Multinational conglomerate General Electric Company ( GE ) on Tuesday saw its earnings estimates lowered by analysts at Bank of America/Merrill Lynch.

The firm said it lowered its 2011 and 2012 EPS estimates for GE to $1.28 and $1.55, respectively. Bank of America/Merrill Lynch cited upcoming pension headwinds for the move.

Still, the analyst maintained its "Neutral" rating and $21 price target for GE, which represents an expected 28% upside to the stock's Monday closing price of $16.43.

General Electric shares were mostly flat in premarket trading Tuesday.

The Bottom Line
We have been recommending shares of GE since July 23, when the stock was trading at $15.21. Shares of GE have a 2.92% dividend yield, based on last night's closing stock price of $16.43.

General Electric Company ( GE ) is a "recommended" dividend stock, holding a DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: GE

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