Multinational conglomerate General Electric Company (
) on Wednesday caught some further positive commentary from
analysts at Oppenheimer.
The firm maintained its "Outperform" rating and lifted its price
target from $21 to $24. That new target suggests a 20% upside to
the stock's Tuesday closing price of $20.04.
An Oppenheimer analyst commented, "We calculate about 3c upside
to our 2012E, using midpoint of industrial organic growth guidance
(5-10%) and guided 50 bps Industrial OM improvement. We also
believe that GE Capital's cyclical recovery drivers could support
4-5c upside to our model, but remain conservative as a margin of
error buffer. Industrial OM expansion in 2013 could pace ahead of
50 bps annual target, given GEnx learning curve, maturing
acquisition integrations, likely consistent services growth, and HD
Turbines operating leverage opportunity."
General Electric shares posted modest gains in premarket trading
The Bottom Line
We have been recommending shares of General Electric (
) since Dec.9, 2011, when the stock was trading at $16.80. The
company has a 3.39% dividend yield, based on last night's closing
stock price of $20.04.
General Electric Company (
) is not recommended at this time, holding a Dividend.com 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
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