UPDATE: Credit Suisse Raises PT to $25 on General Electric Following NBC Universal Investment
Credit Suisse maintained General Electric Company (NYSE: GE) with an Outperform rating and raised the price target from $24.00 to $25.00.
Credit Suisse noted, "GE announced after the market close yesterday that it will sell its remaining 49% stake in NBCU for $16.7bn, to Comcast, while GECC will sell some property associated with NBCU for $1.4bn, to NBCU affiliates; the deal is expected to close this quarter. We think the news affirms that the enormous self-help potential at GE is starting to be realized, and this should drive share price outperformance."
General Electric closed at $22.58 on Tuesday.
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