- General Electric Company (NYSE: GE) has received a price target increase from $6.25 to $6.81 by Deutsche Bank. These are the details.
General Electric Company (NYSE: GE) has received a price target increase from $6.25 to $6.81 by Deutsche Bank. And Deutsche Bank also set the company stock to a “Hold” rating.
DeBlase is not the only analyst that is bullish on GE. CNBC’s Mad Money host Jim Cramer said that longer-term, he is expected Ford and General Electric to head back to “double digits.” And on Friday, Goldman Sachs gave General Electric a buy rating with a price target of $10.
“Admittedly, we might be a little early on the turn in the stock, but we believe we are at a bottom from both a fundamental and sentiment perspective, and that is typically the best time to own industrial cyclicals,” said Goldman Sachs in a research note via CNBC.
So why did the GE stock fall over 40% this year? Cramer pointed out that there were strategic errors made by management and oil prices were a factor.
Gradient Investments President Michael Binger pointed out that Goldman Sachs has made a “great call.” Binger cited that the Goldman analyst made the decision based on 4 metrics: a vaccine for COVID-19, GE’s cash flow position (could shift to positive in the next 3 years), the aviation division has bottomed, and Wall Street could be underestimating the earnings power of the power and renewable energy divisions.