Cowen & Co. Sticks to Their Hold Rating for General Electric

By Ryan Adsit

In a report released yesterday, Gautam Khanna from Cowen & Co. reiterated a Hold rating on General Electric (NYSE: GE), with a price target of $30. The company’s shares closed yesterday at $27.83, close to its 52-week low of $27.10.

Khanna wrote:

“At the EPG conference, GE acknowledged that the $2 C18 EPS target is a high bar, and.”

According to TipRanks.com, Khanna is a 4-star analyst with an average return of 8.9% and a 71.7% success rate. Khanna covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Honeywell International, and Allegheny Technologies.

Currently, the analyst consensus on General Electric is Moderate Buy and the average price target is $31.20, representing a 12.1% upside.

In a report issued on May 9, Oppenheimer also reiterated a Hold rating on the stock.

Based on General Electric’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $27.57 billion and quarterly net profit of $758 million. In comparison, last year the company earned revenue of $27.88 billion and had a net profit of $587 million.

Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GE in relation to earlier this year. Earlier this month, Jeffrey Immelt, the Chairman & CEO of GE bought 100,000 shares for a total of $2,807,400.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.