January 23, 2013 at 09:32 AM EST
Oppenheimer Increases Price Target on General Electric (GE)

Oppenheimer reported on Wednesday that they have increased their price target on technology company, General Electric Company(GE).

The firm, which currently has “Outperform” rating on the company, raised their price target on GE to $25. This price target suggests a 12% increase from the stock’s current price of $21.99.

Analysts have increased their estimates based on backlog support for 2013.

General Electric shares were mostly flat during premarket trading Wednesday. The stock has increased 15% in the past year.

The Bottom Line
Shares of General Electric (GE) have a 3.45% dividend yield, based on last night’s closing stock price of $22.01. The stock has technical support in the $20-$21 price area. If the shares can firm up, we see overhead resistance around the $23-$24 price levels.

General Electric Company(GE) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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