Multinational conglomerate General Electric Company (
) on Monday saw its "Buy" rating reiterated by analysts at Goldman
The firm noted that the company's first quarter was
"uninspiring" but noted the recent underperformance of the stock
since that report has created a "buying opportunity."
Goldman maintained its 2011-13 earnings estimates and $23
12-month price target, which implies a 15% upside to the stock's
Friday closing price of $19.95. The analyst commented, "While
short-term investors had reason to be disappointed with 1Q, we
believe a more positive outlook is intact."
General Electric shares rose 11%, or +0.6%, in premarket trading
The Bottom Line
Shares of General Electric (
) have a 3.01% dividend yield, based on Friday's closing stock
price of $19.95. The stock has technical support in the $19 price
area. If the shares can firm up, we see overhead resistance around
the $22 price level.
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
our ratings system here
Created by Dividend.com