Credit Suisse Initiates Coverage on General Electric Company (GE)
Credit Suisse began coverage on shares of General Electric Company (NYSE:GE) in a research note issued on Monday. The firm set an “outperform” rating and a $30.00 price target on the stock. Credit Suisse’s price objective would indicate a potential upside of 17.00% from the stock’s previous close.
General Electric Company (NYSE:GE) opened at 25.64 on Monday. General Electric Company has a 52-week low of $22.92 and a 52-week high of $28.09. The stock’s 50-day moving average is $26.01 and its 200-day moving average is $26.05. The company has a market cap of $257.3 billion and a P/E ratio of 20.31. General Electric Company also was the recipient of unusually large options trading activity on Friday. Traders acquired 46,789 put options on the stock. This represents an increase of 281% compared to the typical daily volume of 12,293 put options.
General Electric Company (NYSE:GE) last posted its quarterly earnings results on Friday, July 18th. The company reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. The company had revenue of $36.20 billion for the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter in the previous year, the company posted $0.36 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. Analysts expect that General Electric Company will post $1.68 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on GE. Analysts at Sanford C. Bernstein upgraded shares of General Electric Company from a “market perform” rating to an “outperform” rating in a research note on Tuesday, August 5th. They now have a $33.00 price target on the stock, up previously from $29.00. Separately, analysts at Bernstein upgraded shares of General Electric Company from a “market perform” rating to an “outperform” rating in a research note on Tuesday, August 5th. They now have a $33.00 price target on the stock, up previously from $29.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of General Electric Company in a research note on Tuesday, July 22nd. They now have a $27.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $29.31.
General Electric Company (NYSE:GE) is a diversified technology and financial services company.
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