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General Electric’s Target and Estimates Cut at Goldman Sachs (GE)
7/12/2010 9:24:00 AM
Multinational manufacturing conglomerate General Electric Company ( GE ) saw its price target and earnings estimates lowered on Monday by analysts at Goldman Sachs.
The firm reduced its price target on GE to $18, which still represents a potential 20% upside to the stock's Friday closing price of $14.95. Goldman also cut its earnings estimates for the company, citing lesser industrial expectations, along with higher currency and pension costs.
Still, the analyst maintained its "Buy" rating for GE.
General Electric shares were mostly flat in premarket trading Monday.
The Bottom Line
General Electric Company ( GE ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.