General Electric Shares Gain After UBS Price Target Boost

General Electric (GE) – Get Report shares jumped higher Friday after analysts at UBS boosted their price target on the group amid the ongoing turnaround for the industrial giant under CEO Larry Culp.

UBS analyst Markus Mittermaier moved his price target $2 higher, to $17 a share — among the highest on Wall Street — while maintaining his ‘buy’ rating on the stock, citing Culp’s success in steering the group’s turnaround and its simplified business structure and improving industrial cash flows.

General Electric shares were marked 0.25{41490b4d0cf0dbc5ec3f65e11fff509c7d6ed2a53a838ebf7adf43f0908f07f3} higher in early trading Friday to change hands at $13.50 each,

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GE stock jumps to a 3-year high after UBS analyst gets a little more bullish

Shares of General Electric Co. ran up to a near three-year high Wednesday, after UBS analyst Markus Mittermaier said rising interest rates and the COVID-relief bill are reasons to get a little more bullish on the industrial conglomerate.

Mittermaier raised his price target to $15 from $14, while reiterating the buy rating he’s had on the stock since December 2019. The new target would make Mittermaier the second-most bullish on GE of the 21 analysts surveyed by FactSet, behind just Global Equities Research’s $21 target.

GE’s stock
GE,
+0.29{41490b4d0cf0dbc5ec3f65e11fff509c7d6ed2a53a838ebf7adf43f0908f07f3}
rose 3.5{41490b4d0cf0dbc5ec3f65e11fff509c7d6ed2a53a838ebf7adf43f0908f07f3} to $13.44, to close at the highest level since

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