General Electric Stock's Bull Run Isn't Over Yet
Shares of General Electric (NYSE: GE) are up more than 80% during the past year, and there's reason to believe the run could continue. Not only did management recently raise its overall full-year revenue and earnings forecast, it also raised projection for both its GE Aerospace and in GE Vernova (the combination of GE Power and GE Renewable Energy that will be spun off in early 2024).
Moreover, there are a couple of things, one from each business, that suggest better days are ahead.
Having started the year predicting 2023 high-single-digit percentage revenue growth and free cash flow (FCF) of $3.4 billion to $4.2 billion, respectively, management raised earnings and FCF forecasts on every earnings call throughout the year. Consequently, its current estimates call for low-teen revenue growth and FCF of $4.7 billion to $5.1 billion.
Source Fool.com
