Analysts at Nomura Securities remain optimistic on General
Electric Company (
) despite the stock being under pressure after the release of a
lackluster third quarter earnings report last week.
Nomura Securities maintains its "Buy" rating, but revised its
price target for the technology and financial services giant to $24
from $25. The new target is a +9% upside from Friday's closing
price of $22.03.
"Segment profit came in a little light of our estimates, offset
by lower corporate, which is not great, but GE checked the
important boxes in the quarter with industrial margins turning
positive, order growth ex-wind ex-fx up 4%, and GE Capital
declining to 44% of earnings," said analyst Shannon
"In total, there were some puts and takes in the quarter, but
industrial margins (going up) and GE Capital earnings mix (going
down) are both headed in right direction, in our view," he
GE shares were down 33 cents, -1.50%, in morning trading on
The Bottom Line
Shares of General Electric (
) have a 3.09% dividend yield, based on Friday's closing stock
price of $22.03. The stock has technical support in the $19-$20
price area. If the shares can firm up, we see overhead resistance
around the $70-$74 price levels.
General Electric (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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, as well as a detailed explanation of
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