Is It Time to Buy General Electric Company Stock?
On Monday, U.S. industrial giant General Electric (NYSE: GE) held an investor day event at which new CEO John Flannery unveiled his strategy for the company. The stakes were high, as GE released a terrible earnings report last month and slashed its 2017 EPS forecast. Indeed, the average analyst EPS estimate for 2017 has plunged from $1.53 to $1.08 in the last 30 days.
However, investors didn't take kindly to what Flannery had to say on Monday, especially his decision to slash GE's dividend by 50%. As a result, General Electric stock fell 13% in the first two days of this week, leaving it 45% below its 52-week high. After this big tumble, General Electric stock is starting to look like an interesting long-term investment opportunity.
General Electric is one of the last big conglomerates in the U.S. Recently, its complexity has been a problem. The company has allowed problems to fester in many of its businesses because management's attention has been spread too thin.
Source: Fool.com
General Electric Co. Stock
The stock is an absolute favorite of our community with 35 Buy predictions and no Sell predictions.
As a result the target price of 162 € shows a slightly positive potential of 7.64% compared to the current price of 150.5 € for General Electric Co..
