“General Electric stock could potentially double: Goldman Sachs”
June 30, 2021
“…”We view GE as the ultimate self-help, re-opening levered story in Industrials,” said Goldman Sachs analyst Joe Ritchie in a new research note on Tuesday. The analyst slapped a $16 price target on GE’s stock, representing about a 22% upside from current levels. Shares rose 1.3% to $13.06 in early afternoon trading Tuesday. GE’s stock is up 21% year-to-date, per Yahoo Finance Plus data. That’s better than the 18% gain in Caterpillar (CAT) and the 13% rise in 3M (MMM), two fellow industrials. But Goldman’s Ritchie didn’t rule out a much higher move to the upside for GE’s stock as it continues to repair its finances under well-paid CEO Larry Culp and partakes in the global economic recovery…”