Is General Electric Stock Going to $180? 1 Wall Street Analyst Thinks So.
It's been a busy week for General Electric (NYSE: GE) and its investors, with management holding two separate investor day presentations. The first was for GE Venova, a business set to be spun off in early April that contains GE's power and renewable energy businesses. The second was for GE Aerospace, the commercial aerospace-focused business that will remain.
Both presentations were well received, and they apparently convinced a analyst to upgrade the firm's price target to $180 from $166 -- an 8.4% bump -- upgrading the rating from neutral to overweight. The reason for the upgrade comes down to a combination of factors that had been lacking in the realms of management team, business model, and positioning within the cycle.
I think there's reason to believe the JPMorgan assessment is correct. GE Vernova's power business is now solidly cash-flow-generative, with 81% of its backlog in services. Its electrification business has exciting growth opportunities from the electrification-of-everything trend and the need to connect renewable energy to the grid. The wind business is a recovery in progress as management continues to execute its problematic offshore wind backlog.
Source Fool.com
JPMorgan Chase & Co. Stock
The stock is one of the favorites of our community with 40 Buy predictions and 2 Sell predictions.
With a target price of 202 € there is a slightly positive potential of 4.5% for JPMorgan Chase & Co. compared to the current price of 193.3 €.
