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Why GE's Stock Rallied 6% Today

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Why GE's Stock Rallied 6% Today

BofA Securities analyst Andrew Obin reiterated a Buy rating on General Electric Company (NYSE: GE) and raised the price target from $14 to $15. UBS analyst Markus Mittermaier reiterated a Buy rating and a $15 target.

Last week, AerCap Holdings (NYSE: AER) announced it will acquire 100% of GE's Capital Aviation Services for total consideration of $30 billion.

Shares of GE closed Monday's session at $13.35, up 6.16%. Obin’s price target of $15 leaves shares of GE around 11.3% to run.

See Also: How General Electric Is Inching Towards Becoming A 'Normal' Industrial Stock

General Electric is known for its digital industrial offerings and massive installed base spread across a variety of products and services, including aircraft engines, gas turbines, wind turbines, and medical diagnostic equipment, among others.

After the sale of GE Transportation to Wabtec and a majority of its stake in Baker Hughes, as well as the sale of GE Biopharma to Danaher, the company's focus turns to aviation, legacy healthcare, power and renewable energy.

Latest Ratings for GE

DateFirmActionFromTo
Apr 2021Credit SuisseMaintainsNeutral
Apr 2021RBC CapitalMaintainsOutperform
Mar 2021Deutsche BankMaintainsHold

View More Analyst Ratings for GE
View the Latest Analyst Ratings

 

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