Is General Electric Stock Going to $200? 1 Wall Street Analyst Thinks So
General Electric (NYSE: GE) has had a great year, with the stock price up 96% over the past 52 weeks. That run looks likely to continue with the spinoff of GE Vernova, set for April 2. That's the view of Wells Fargo analyst Matthew Akers, who recently upgraded GE's price target from $177 to $200. Akers maintained an "overweight" rating on the stock.
In Akers's view, GE has the potential to cut costs significantly in the coming years thanks to the spinoff, which should result in higher margins down the line. As a smaller company, there's an obvious opportunity to cut down on corporate costs, and its GE Aerospace segment is set to move into a cash-flow generative space as revenue from servicing LEAP engines starts to kick in.
In addition, Akers believes GE Vernova is worth around $34 per GE share, a relatively high estimate compared to other Wall Street analysts.
Source Fool.com
