Barclays Sticks to Their Buy Rating for General Electric (GE)

By Austin Angelo

Barclays analyst Julian Mitchell maintained a Buy rating on General Electric (GEResearch Report) on December 6 and set a price target of $13.00. The company’s shares closed last Monday at $11.10, close to its 52-week high of $11.84.

According to TipRanks.com, Mitchell is a 5-star analyst with an average return of 11.9% and a 73.8% success rate. Mitchell covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Gardner Denver Holdings, and Lennox International.

Currently, the analyst consensus on General Electric is a Moderate Buy with an average price target of $11.29, implying a 3.6% upside from current levels. In a report issued on December 3, RBC Capital also reiterated a Buy rating on the stock with a $13.00 price target.

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The company has a one-year high of $11.84 and a one-year low of $6.40. Currently, General Electric has an average volume of 50.67M.

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General Electric Co. is a technology and financial services company that develops and manufactures products for the generation, transmission, distribution, control and utilization of electricity. Its products and services include aircraft engines, power generation, water processing, security technology, medical imaging, business and consumer financing, media content and industrial products. The company operates through the following segments: Power, Oil & Gas, Aviation, Healthcare, Transportation, Appliances & Lighting and GE Capital. The Power segment serves power generation, industrial, government and other customers worldwide with products and services related to energy production. The Oil & Gas segment supplies mission critical equipment for the global oil and gas industry, used in applications spanning the entire value chain from drilling and completion through production, liquefied natural gas and pipeline compression, pipeline inspection, and downstream processing in refineries and petrochemical plants. The Aviation segment products and services include jet engines, aerospace systems and equipment, replacement parts and repair and maintenance services for all categories of commercial aircraft; for a wide variety of military aircraft, including fighters, bombers, tankers and helicopters; for marine applications; and for executive and regional aircraft. The Healthcare segment products include diagnostic imaging systems such as magnetic resonance, computed tomography and positron emission Tomography scanners, X-ray, nuclear imaging, digital mammography and molecular imaging technologies. The Transportation segment engages in global technology and supplier to the railroad, mining, marine and drilling industries. The Appliances & Lighting segment products include major appliances and related services for products such as refrigerators, freezers, electric and gas ranges, cooktops, dishwashers, clothes washers and dryers, microwave ovens, room air conditioners, residential water systems for filtration, softening and heating, and hybrid water heaters. The GE Capital segment offers financial services and products worldwide for businesses of all sizes, services include commercial loans and leases, fleet management, financial programs, credit cards, personal loans and other financial services. The company was founded by Thomas A. Edison in 1878 and is headquartered in Boston, MA.