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Fly News Breaks for April 19, 2018
GE
Apr 19, 2018 | 06:44 EDT
JPMorgan analyst Stephen Tusa says that with expectations low on the quarter, he does not expect "major negative items" in General Electric's Q1 results. However, the analyst notes that better than guided free cash flow would not change his view on the year and ultimate run rate into 2019 "in the absence of a material fundamental change of direction in business results." The keys to the story will be the visibility on Power profits, where standing guidance calls for $2.5B-plus in profits for 2018 without the accounting change and now Aviation, which is showing a 17% increase to hit prior guidance after being flat in 2017, Tusa tells investors in a pre-earnings research note. He adds that the stock's material underperformance "makes any trading call tricky." News on Q2 seasonality likely comes on the conference call, making the trade immediately following the print "not entirely relevant and tough to call," Tusa adds. He keeps an Underweight rating on shares of General Electric with an $11 price target.
News For GE From the Last 2 Days
GE
Mar 27, 2024 | 05:45 EDT
Wells Fargo analyst Matthew Akers raised the firm's price target on General Electric to $200 from $177 and keeps an Overweight rating on the shares. The analyst sees opportunity for GE to cut 300-500 basis points of expenses in the coming years, 2-3 times what the company committed to at its recent investor day. The firm increased estimates to incorporate higher margins. The new price target reflects a 30-times price-to-earnings multiple on aerospace and $34 per share for Vernova.