Why Shares of General Electric Rose Today
Shares in industrial conglomerate General Electric (NYSE: GE) beat the market today, rising 2% by midday. The move came after RBC Capital analyst Deane Dray raised his price target on the stock from $87 to $93; the stock currently trades at about $85.
It's a confident move by Dray, considering that GE will hold an investor conference on March 9. Wall Street analysts often wait until after such an event before changing price targets and ratings.
CEO Larry Culp's recent presentations have given confidence to investors and the analyst community.
Source Fool.com
