GE's stock rose Thursday after bullish UBS analyst Chris Snyder raised his price target, calling the company a defensive play in the face of a worrisome...
Shares of General Electric Co. gained ground Thursday after bullish UBS analyst Chris Snyder raised his price target by 15%, saying the aviation, power and renewable-energy company is a defensive play in the face of a worrisome economic outlook.
Synder said while the market’s valuation of GE’s GE stock may be “pushing near the upper limit,” his chief concern is geopolitical, not macroeconomic. The stock rose 0.1% in afternoon trading, with Snyder’s new price target implying about 16% upside from current levels. It has slipped nearly 3% since closing at a five-year high of $96.92 on April 3.
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