Goldman Sachs raised the firm’s price target on General Electric to $133 from $121 and keeps a Buy rating on the shares after its Q2 earnings beat that was driven by stronger Aero growth, up 28%, and better margins in every segment. It was also “encouraging to hear” all the actions that GE is taking to clean up the balance sheet, including preferred dividend redemption, partial sale of GE HC stake, and Polish mortgage settlement program, the analyst tells investors in a research note, noting that the firm is looking to additional actions ahead of the Vernova spin in early 2024.
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