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General Electric Upgraded to “Buy” at Argus Research on Strong Industrial Business (GE)
Multinational conglomerate General Electric Company ( GE ) on Friday caught a big upgrade from analysts at Argus Research.
The firm said it boosted its rating on GE from "Hold" to "Buy" with a $26 price target. That target implies a 28% upside to the stock's Thursday closing price of $20.28.
An Argus analyst noted that GE's strengthening industrial business is driving growth within the company.
General Electric shares rose 12 cents, or +0.6%, in premarket trading Friday.
The Bottom Line
We have been recommending shares of General Electric ( GE ) since July 23, 2010, when the stock was trading at $15.21. The company has a 2.76% dividend yield, based on last night's closing stock price of $20.28.
General Electric Company ( GE ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.