J.P. Morgan: Mood Upbeat at GE Global Growth Meeting
In a research report published today by J.P. Morgan, General Electric's (NYSE: GE) trends are on track YTD.
According to J.P. Morgan, “The portfolio here looks uniquely well positioned in the right areas for late cycle growth in evolving/slowing global growth markets (EM). Notably, we got new guidance on certain segments of this portfolio that shows that, alone, they add ~7% to GE Industrial growth in '12 (this does NOT include growth from the US), ~2x the EE/MI sector average. GE has been a laggard in key markets like China but now finds itself with 3 legs/markets (gas, aviation and healthcare) that are in the sweet spot of investment priorities for the next 5 years, a differentiating factor versus leading legacy China plays like EMR. Visibility on drivers here is a key versus the standing "show me" on guidance.”
J.P. Morgan maintains its Overweight rating and $21 PT on General Electric, which is currently trading at $18.81.
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