General Electric

JP Morgan analyst Seth Seifman maintains General Electric (NYSE:GE) with a Neutral and raises the price target from $134 to $166.

Barclays analyst Julian Mitchell maintains General Electric (NYSE:GE) with a Overweight and raises the price target from $153 to $181.

General Electric Vernova Is Expected to Spin Off From GE in Early April, Subject to Final Approval From the GE Board and Other Customary Conditions.

General Electric late Thursday filed a long-awaited form with the Securities and Exchange Commission that provides investors with key details about the upcoming breakup of the company into GE Aerospace and GE Vernova. The Form 10 filing is used to register new securities. In this case, the securities are for GE Vernova — the power generation company inside of GE that officially is being spun off. The Form 10 runs 272 pages. Here are a few things Barron’s took from the filing along with a little context. No Debt GE Vernova will start life with more cash than debt. In fact, it won’t have any debt at all. The cash balance should be about $4.2 billion at the time of the spinoff. That will leave GE Aerospace with about $15 billion in cash and $18 billion in debt. GE also is, essentially, paying back about $1 billion in debt using

The following is a summary of the General Electric (GE) Q4 2023 Earnings Call Transcript: Financial Performance: GE experienced substantial growth in 2023 with tripled earnings and a 70% increase in free cash flow. Its Aerospace, Renewable Energy, and Power segments exhibited strong financial performance with positive profits and free cash flow. Debt was reduced by over $100 billion and shareholders were returned $7 billion. Q4 orders topped $5 billion, with annual orders reaching $23 billion, a roughly 50% increase. Revenue for Renewable Energy and Power businesses grew in double digits, contributing to overall revenue growth. Profits surpassed $1 billion, with Renewable Energy showing over $100 million growth. Free cash flow however was slightly negative. Business Progress: 2024 saw the launch of GE Aerospace and GE Vernova, with the latter focusing on electrification and decarbonization of the globe. GE Aerospace engine deliveries were up 11% and secured over 450 engine

RBC Trims Price Target on General Electric to $148 From $150, Notes ‘Incremental Aerospace Burden,’ Keeps Outperform Rating.

General Electric (NYSE:GE) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 12/18/2023 21.49% RBC Capital $131 → $150 Maintains Outperform 12/15/2023 16.63% Wells Fargo $115 → $144 Upgrades Equal-Weight → Overweight 12/11/2023 19.87% Citigroup $135 → $148 Maintains Buy 10/25/2023 6.1% RBC Capital $130 → $131 Maintains Outperform 10/25/2023 7.72% Barclays $131 → $133 Maintains Overweight 09/28/2023 14.2% Deutsche Bank → $141 Initiates Coverage On → Buy 08/10/2023 1.24% Morgan Stanley $122 → $125 Maintains Overweight 07/31/2023 — Oppenheimer Downgrades Outperform → Perform 07/27/2023 9.34% Citigroup $126 → $135 Maintains Buy 07/26/2023 5.29% Argus Research $112 → $130 Maintains Buy 07/26/2023 -1.19% Morgan Stanley $110 → $122 Maintains Overweight 07/26/2023 5.29% RBC Capital $120 → $130 Maintains Outperform 07/26/2023 6.1% Barclays $125 → $131 Maintains Overweight 07/26/2023 7.72% Goldman Sachs $121 → $133 Maintains Buy 07/11/2023 2.05% Citigroup $114 → $126 Maintains

General Electric (NYSE:GE) Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 12/15/2023 17.07% Wells Fargo $115 → $144 Upgrades Equal-Weight → Overweight 12/11/2023 20.33% Citigroup $135 → $148 Maintains Buy 10/25/2023 6.5% RBC Capital $130 → $131 Maintains Outperform 10/25/2023 8.13% Barclays $131 → $133 Maintains Overweight 09/28/2023 14.63% Deutsche Bank → $141 Initiates Coverage On → Buy 08/10/2023 1.63% Morgan Stanley $122 → $125 Maintains Overweight 07/31/2023 — Oppenheimer Downgrades Outperform → Perform 07/27/2023 9.76% Citigroup $126 → $135 Maintains Buy 07/26/2023 5.69% Argus Research $112 → $130 Maintains Buy 07/26/2023 -0.81% Morgan Stanley $110 → $122 Maintains Overweight 07/26/2023 5.69% RBC Capital $120 → $130 Maintains Outperform 07/26/2023 6.5% Barclays $125 → $131 Maintains Overweight 07/26/2023 8.13% Goldman Sachs $121 → $133 Maintains Buy 07/11/2023 2.44% Citigroup $114 → $126 Maintains Buy 07/10/2023 -14.63% Wells Fargo $100 → $105 Maintains Equal-Weight

Wells Fargo analyst Joe O’Dea upgrades General Electric (NYSE:GE) from Equal-Weight to Overweight and raises the price target from $115 to $144.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our 12-month target price remains $124, a 28.8x multiple applied to our revised 2024 EPS estimate. The applied multiple is in line with the average valuation in our aerospace universe coverage, as GE increasingly gets closer to a spin-off of GE Vernova, its Renewables and Power business, which would render GE as a pure-play aerospace firm. We raise our 2023 EPS estimate by $0.29 to $2.62 but trim 2024’s by $0.12 to $4.30. Q3 EPS of $0.82 vs. $0.35, beat the consensus view by $0.26. On the one hand, secular tailwinds for a revamped aerospace replacement cycle are strong and support demand for GE’s aircraft engines (including the LEAP engine). On the other hand, internal supply chain problems, plus quality control woes at both Boeing (BA 183

General Electric (GE) reported Q3 adjusted earnings Tuesday of $0.82 per share, swinging from a loss of $0.17 per share a year earlier. Analysts polled by Capital IQ expected $0.56. Revenue for the quarter ended Sept. 30 was $17.35 billion, compared with $14.47 billion a year earlier. Analysts surveyed by Capital IQ expected $15.69 billion. For 2023, the industrial conglomerate said it now expects adjusted earnings of $2.55 to $2.65 per share, from prior outlook range of $2.10 to $2.30. Analysts surveyed by Capital IQ expect $2.34. The company also said it now expects organic revenue growth in the low teens, from its previously announced guidance of a low-double-digit growth rate. Separately, the company said it plans to spin off GE Vernova and launch GE Aerospace at the beginning of Q2 2024. GE Vernova will trade on the New York Stock Exchange under the symbol “GEV,” while GE Aerospace will

General Electric (NYSE:GE) CEO Says Offshore Wind To Have Similar Losses In 2024 Compared To 2023 But Cash Flow Will Be Better; Says Offshore Wind Remains Difficult This Year With Losses Of Roughly $1B In 2023.