UPDATE: Bank of America Reiterates Buy Rating, Raises PT on General Electric Company on Model Update

In a report published Friday, Bank of America analyst Andrew Obin reiterated a Buy rating on

, and raised the price target from $29.00 to $31.00. In the report, Bank of America noted, “We update the model following GE's analyst day and '15 outlook, and now include Alstom in our forecast. Our 4Q EPS gets cut by 2c on impairment, and Oil & Gas, and we maintain 15 EPS at 1.74 in line with GE outlook of $1.70-1.80. Our sum-of-the-parts analysis shows taking into account excess capital at GECC, investors get GE Capital at close to zero.” General Electric Company closed on Wednesday at $25.27.