The first significant upgrade in GE for over a year. Brokerage firm Oppenheimer on Friday upgraded its rating for General Electric Co. to outperform from perform as the conglomerate’s financial portfolio stabilizes. “We note that consumer finance’s delinquencies and non-earnings have recently shown meaningful signs of stabilization and flattening out,” the firm said in a note to investors.
GE’s financial arm is still at risk, but GE’s industrial business is holding up well.
TheOppenheimer raised its 12-month price target to $18 from $17. Shares of GE are up 79 cents or 5.47% to $15.22 at the time of this writing. I have 125% of my target investment in GE.