UPDATE: Goldman Sachs Resumes Coverage on General Electric on Limited Upside to 2013/2014 EPS
In a report published Monday, Goldman Sachs analyst Joe Ritchie resumed coverage on General Electric Company (NYSE: GE) with a Neutral rating and $26.00 price target.
In the report, Goldman Sachs noted, “We resume coverage of General Electric (GE) with a Neutral rating and $26, 12-month price target. Our view is based on limited upside to 2013/2014 EPS coupled with a balanced risk/reward at this time. Specifically, we believe the 2013 margin targets are aggressive and a lower asset base at Capital will weigh on 2014 growth. Over the long term, we like GE's position in attractive markets, simplification efforts and actions since the global financial crisis to make Capital stronger/safer. However, while GE appears well on its way to achieving its ENI reduction targets, we believe more can be done to improve its returns/ growth profile, making it a more attractive investment longer-term.”
General Electric Company closed on Friday at $24.05.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.