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J.P. Morgan Reiterates Overweight Rating on General Electric Company After NBCU Transaction

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In a report published Wednesday, J.P. Morgan reiterated its Overweight rating on General Electric Company (NYSE: GE).

J.P. Morgan noted, “We view the NBCU transaction as a net positive for GE, a neutral EPS event that provides a head start on forward restructuring, while accelerating the ongoing wind-down of GECS. The Bear case is that the extra cost-out is needed to hit targets as base business deteriorates, a notion we think is fair in the macro environment. However, we think cheap funds drives timing more than GE discretion, and we don't see a big difference between the move here and what others like HON do consistently. In the end, through the noise, we remain focused on 70 bps of margin as the key target, and we view this event as helping to solidify that, while providing somewhat of a head start on '14, both positive. We remain Overweight.”

General Electric Company closed on Tuesday at $22.58.

Latest Ratings for GE

DateFirmActionFromTo
Nov 2014RBC CapitalInitiates Coverage onOutperform
Sep 2014Stifel NicolausInitiates Coverage onBuy
Aug 2014BernsteinUpgradesMarket PerformOutperform

View More Analyst Ratings for GE
View the Latest Analyst Ratings

Posted-In: J.P. MorganAnalyst Color Reiteration Analyst Ratings

 

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