General Electric’s Estimates Lowered at Credit Suisse on Energy Concerns (GE)


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Multinational conglomerate General Electric Company ( GE ) on Wednesday saw its earnings estimates trimmed by analysts at Credit Suisse.

The firm said it cut its estimates for GE through 2012, citing worsening margins in the company's GE Energy unit.

Still, Credit Suisse maintained its "Outperform" rating and $22 price target for GE, suggesting a 37% upside to the stock's Tuesday closing price of $16.04.

General Electric shares fell slightly in premarket trading Wednesday.

The Bottom Line
Shares of General Electric ( GE ) have a 3.74% dividend yield, based on last night's closing stock price of $16.04. The stock has technical support in the $14-$15 price area. If the shares can firm up, we see overhead resistance around the $17-$18 price levels.

General Electric Company ( GE ) is not recommended at this time, holding a DARS™ Rating of 3.3 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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