In a report released today, Gautam Khanna from Cowen & Co. reiterated a Hold rating on General Electric (NYSE: GE), with a price target of $24. The company’s shares opened today at $23.14, close to its 52-week low of $22.83.
According to TipRanks.com, Khanna is a 5-star analyst with an average return of 15.8% and a 77.5% success rate. Khanna covers the Consumer Goods sector, focusing on stocks such as General Dynamics Corp, Lockheed Martin Corp, and Transdigm Group Inc.
Currently, the analyst consensus on General Electric is Moderate Buy and the average price target is $25.91, representing an 12.0% upside.
In a report issued on October 17, Goldman Sachs also maintained a Hold rating on the stock with a $23 price target.
Based on General Electric’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $29.19 billion and quarterly net profit of $1.36 billion. In comparison, last year the company earned revenue of $29.07 billion and had a net profit of $2.42 billion.
Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GE in relation to earlier this year.
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