UPDATE: J.P. Morgan Reiterates Overweight Rating, Raises PT on General Electric

In a report published Wednesday, J.P. Morgan & Co. reiterated its Overweight rating on General Electric Company GE, and slightly raised its price target from $21.00 to $22.00. J.P. Morgan noted, “As a late-cycle business, with fundamentals relatively close to trough and visible drivers for above average growth with margin leverage for the next 3-5 years in most reasonable economic scenarios (starting in 3Q12), GE Oil & Gas is a key support to the differentiated GE industrial growth/multiple expansion story we see in the years ahead. The GE growth story, missing for over a decade, starts here. We are raising our PT and remain OW.” General Electric Company closed on Tuesday at $20.51.