Multinational conglomerate General Electric Company (GE) on Friday caught some continued bullish sentiment from analysts at Morgan Stanley.
The firm maintained its “Overweight” rating and $21 price target for GE, which suggests 11% upside to the stock’s Thursday closing price of $18.88. Morgan Stanley also lifted its earnings estimates for the company through 2014, citing GE’s plans for increase share buybacks.
General Electric shares, which have risen about 5% year-to-date, posted modest gains in premarket trading Friday.
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 3.60% dividend yield, based on last night’s closing stock price of $18.88.
General Electric Company (GE) is a “Recommended” dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.