General Electric Company GE shares are trading sharply higher by $0.84 at $28.84 in Thursday's session. The Street is taking note of Citigroup's imitation of coverage this morning with a Buy rating.
The issue is now over $1 higher than its $27.48 low out in place amidst the panic selling in Wednesday's session. It did recover to end the session at $28.
The move by Citigroup instigated a higher open and after a brief retreat to $28.16, the rally continued. The ensuing rally took the issue to nearly the $29 level, but came up just shy at $28.98.
The issue, which reached a 90-month high ($31.49) in December, retreated with the broad market this month but recouped nearly 40 percent of that decline in today's session.
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