RBC Capital raised the firm’s price target on General Electric to $113 from $104 and keeps an Outperform rating on the shares. The company reported positive free cash flows in its Q1 for the first in nearly a decade, driven by higher earnings and some AD&A benefit timing, the analyst tells investors in a research note. The earnings beat did not full flow through to guidance, but this is due to the management taking a conservative stance given all the macro uncertainty, RBC added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on GE:
- General Electric price target raised to $115 from $110 at Barclays
- General Electric sees Q2 loss for Renewables roughly in line with Q1
- General Electric sees FY23 Aerospace organic revenue growth mid to high teens
- GE now sees FY23 adjusted EPS $1.70-$2.00 vs. prior $1.60-$2.00 view
- General Electric reports Q1 adjusted EPS 27c, consensus 14c