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RBC Capital Thinks General Electric’s Stock is Going to Recover

RBC Capital analyst Deane Dray maintained a Buy rating on General Electric (GEResearch Report) on July 13 and set a price target of $94.00. The company’s shares closed last Thursday at $61.09, close to its 52-week low of $59.93.

According to TipRanks.com, Dray is a 4-star analyst with an average return of 6.8% and a 46.1% success rate. Dray covers the Industrial Goods sector, focusing on stocks such as Atkore International Group, Evoqua Water Technologies, and Emerson Electric Company.

Currently, the analyst consensus on General Electric is a Moderate Buy with an average price target of $88.00, implying a 44.3% upside from current levels. In a report issued on July 8, Barclays also maintained a Buy rating on the stock with a $81.00 price target.

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General Electric’s market cap is currently $68.25B and has a P/E ratio of -30.83.

Based on the recent corporate insider activity of 105 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

General Electric Co. is a multinational conglomerate that provides technologies and solutions for the Aviation, Healthcare, Power and Renewable Energy industries. Further, through its Capital segment, GE offers leasing and financial underwriting services. The company was founded in 1892 and is headquartered in Boston, Massachusetts.

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