General Electric’s Price Target, Estimates Boosted at Goldman Sachs (GE)
Multinational conglomerate General Electric Company ( GE ) saw its price target and earnings estimates raised on Monday by analysts at Goldman Sachs.
The analyst raised its price target on GE shares, which had closed at $18.97 on Friday, to $22 from $21. Goldman cited GE's better-than-expected first quarter earnings results for the positive sentiment, and reiterated its "Buy" rating on the stock.
The firm also boosted its 2010 earnings estimates to $1.08 from $1.03 per share, maintained its 2011 view of $1.35 per share, and raised its 2012 estimate to $1.60 from $1.50 per share.
Goldman noted that Friday's 3% sell-off in GE stock has created a buying opportunity.
General Electric shares fell 24 cents, or -1.3%, in premarket trading Monday.
The Bottom Line
We have been recommending shares of GE since Sept.16, when the stock was trading at $16. The company has a 2.11% dividend yield, based on Friday's closing stock price of $18.97.
General Electric Company ( GE ) is a "recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.