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General Electric Started as a “Buy” at Citigroup (GE)
Multinational conglomerate General Electric Company ( GE ) on Wednesday saw its coverage initiated with a "Buy" by analysts at Citigroup.
The firm also set a new $19 price target on GE, which implies an expected 18% upside to the stock's Tuesday closing price of $16.16. Citigroup made the move as part of its coverage initiation on the Industrial sector.
GE shares fell 13 cents, or -0.8%, in premarket trading Wednesday.
The Bottom Line
We have been recommending shares of GE since July 23, when the stock was trading at $15.21. The company has a 2.97% dividend yield, based on last night's closing stock price of $16.16.
General Electric Company ( GE ) is a "recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.