Is General Electric a Buy in 2024? Here's What You Need to Know
General Electric (NYSE: GE) is up nearly 60% over the last year, so is it time for existing investors to take profits and potential new investors to take a pass on buying the stock? It would be best if you looked at the company's prospects in 2024 to answer that question. Here's the lowdown on what investors might expect from the company this year.
It will be a year of execution and change for GE. The change comes from the planned spinoff of GE Vernova (encompassing GE Power and GE Renewable Energy) in the second quarter. The execution bit comes from management's opportunity to deliver on its backlogs at GE Aerospace (which will be the remaining company as the General Electric name disappears) and improve profitability at both GE Vernova businesses.
If you buy GE stock now, you will get exposure to both companies after the spinoff takes place, and the good news is there's ample room for improvement in both companies in 2024.
Source Fool.com
