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General Electric’s Estimates Cut at Bank of America/Merrill Lynch on Pension Cost Concerns (GE)
Multinational conglomerate General Electric Company ( GE ) on Tuesday saw its earnings estimates lowered by analysts at Bank of America/Merrill Lynch.
The firm said it lowered its 2011 and 2012 EPS estimates for GE to $1.28 and $1.55, respectively. Bank of America/Merrill Lynch cited upcoming pension headwinds for the move.
Still, the analyst maintained its "Neutral" rating and $21 price target for GE, which represents an expected 28% upside to the stock's Monday closing price of $16.43.
General Electric shares were mostly flat in premarket trading Tuesday.
The Bottom Line
We have been recommending shares of GE since July 23, when the stock was trading at $15.21. Shares of GE have a 2.92% dividend yield, based on last night's closing stock price of $16.43.
General Electric Company ( GE ) is a "recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.