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GE wins new respect from bearish analyst but shares little changed

2018-07-13 03:11    Investing

GE wins new respect from bearish analyst but shares little changed Stock News

© Reuters. GE wins new respect from bearish analyst but shares little changed
  • General Electric (GE +0.3%) is trading heavily but with little movement even after longtime bear Deutsche Bank (DE:DBKGn) upgrades shares to Hold from Sell with a $15 price target, citing recent asset divestitures.
  • DB analyst Nicole DeBlase likes that GE leadership is "taking bold actions to reshape/simplify the portfolio," and sees potential arbitrage between GE's current stock price and her sum-of-the-parts valuation of $16/share.
  • DeBlase also says GE's $25B in debt reduction could be conservative, given the $60B in potential cash inflows.
  • The firm's three Buy-rated industrial stocks - Hoenywell (HON +2.1%), Eaton (ETN +1.3%) and Emerson (EMR +1.7%) - are enjoying bigger bumps, as DeBlase says she prefers "late-cycle capex-driven exposure" given "strong prospects" for continued capital spending growth over the next several years.
  • Now read: General Electric's Upcoming Big Day


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