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General Electric Started as a “Buy” at Citigroup (GE)

Posted: 9/15/2010 9:07:00 AM
Referenced Stocks: 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 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 .