Bulletin
Investor Alert

London Markets Open in:

Market Pulse Archives

Nov. 25, 2020, 2:59 p.m. EST

GE stock set to extend win streak after UBS lifts target a second time in a month

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    General Electric Co. (GE)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Shares of General Electric Co. /zigman2/quotes/208495069/composite GE +0.80% rose for a fourth-straight session on Wednesday, after UBS analyst Markus Mittermaier raised his price target for a second time in a month, saying he expects valuations to re-rate to February levels. GE's stock rose 0.6% in afternoon trading, putting it on track to close at the highest price since March 4. It has gained 8.7% over the past four days, and 41.6% month to date. In comparison, the S&P 500 /zigman2/quotes/210599714/realtime SPX -2.57% has gained 10.9% this month. Mittermaier lifted his price target to $12 from $9 while reiterating his buy rating. The last time the stock closed above $12 was Feb. 21. On Oct. 23, five days before GE reported third-quarter results, Mittermaier had raised his price target to $9.00 from $8.50, saying he believed that of the stocks he covered, GE's was the most levered to a COVID-19 vaccine. On Wednesday, Mittermaier said positive news this month on potential vaccines has already prompted a "rapid re-rating" of GE's stock, but he expected "further upside with the debate ultimately returning to where we left it off in February," he wrote in a research report to clients, given an upbeat outlook on free cash flow, aggressive debt pay downs and a vaccine-levered recovery in aviation, among other things.

/zigman2/quotes/208495069/composite
US : U.S.: NYSE
$ 11.38
+0.09 +0.80%
Volume: 149.44M
Jan. 27, 2021 4:00p
P/E Ratio
19.85
Dividend Yield
0.35%
Market Cap
$98.90 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,750.77
-98.85 -2.57%
Volume: 3.80B
Jan. 27, 2021 4:53p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.