Analysts at Goldman Sachs on Monday offered some further bullish commentary on multinational conglomerate General Electric Company (GE), despite lowering its first quarter earnings expectations.
The firm said it now expects GE’s first quarter earnings to total 32 cents per share, down from a prior estimate of 35 cents. Goldman cited slower-than-expected industrial margin expansion for the move, but noted it’s still bullish long-term in that arena.
Goldman also reiterated its “Buy” rating and $21 price target on GE, which suggests a 10% upside to the stock’s Friday closing price of $19.15.
GE shares posted small losses in premarket trading Monday.
The Bottom Line
We have been recommending shares of General Electric (GE) since Dec.9, 2011, when the stock was trading at $16.80. The company has a 3.55% dividend yield, based on Friday’s closing stock price of $19.15.
General Electric Company (GE) is a “Recommended” dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.