Morgan Stanley Reiterates On General Electric Following Alstom Board Recommendation

In a report published Monday, Morgan Stanley analyst Nigel Coe reiterated an Equal-Weight rating on

, but removed the $28.00 price target. In the report, Morgan Stanley noted, “It was announced over the weekend that the Alstom Board of Directors has unanimously voted to accept GE's offer to acquire the energy assets as opposed to the rival proposal from Siemens and MHI. Completion of the transaction will be subject to Works Council consultation and merger control and other regulatory clearances, including French Foreign Investment authorization. Final approval of the transaction will be submitted to Alstom shareholders with the deal expected to close in 2015.” General Electric Company closed on Friday at $26.97.