J.P. Morgan: Mood Upbeat at GE Global Growth Meeting

In a research report published today by J.P. Morgan, General Electric's

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 (

). 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.