BofA raised the firm’s price target on General Electric to $120 from $108 and keeps a Buy rating on the shares, arguing ahead of the company’s Q2 report that intra-quarter data points suggest GE is tracking towards the high-end of 2023 guidance ranges of $1.70-$2.00 in adjusted EPS and $3.6B-$4.2B in free cash flow. BofA expects GE management to provide “reassuring commentary” on the Q2 earnings call, the analyst added in an earnings preview note.
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