Argus analyst John Eade raised the firm’s price target on General Electric to $130 from $112 and keeps a Buy rating on the shares after its Q2 earnings beat. In the first half of 2023, the company reported higher sales and wider margins, and generated positive free cash flow ahead of schedule, the analyst tells investors in a research note, adding that GE continues to reduce leverage and refocus its business line-up. GE’s turnaround under its new CEO will lead to higher earnings and higher multiples, Argus states.
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