Barclays analyst Julian Mitchell raised the firm’s price target on General Electric to $131 from $125 and keeps an Overweight rating on the shares after its Q2 results. The quarter was “reassuring”, particularly in light of major product and engineering problems affecting key competitors in both Aerospace and Renewables, the analyst tells investors in a research note. Barclays adds that the issues experienced by GE‘s major peers and the company’s improved balance sheet underscore why the stock trades at a valuation premium.
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