General Electric Company [GE] stock Resumed by Goldman analyst, price target now $10

General Electric Company [NYSE: GE] traded at a low on 10/21/20, posting a -0.27 loss after which it closed the day’ session at $7.32. The company report on October 20, 2020 that GE Healthcare Introduces Serena Bright, Industry’s First Contrast-Enhanced Guided Biopsy Solution.

GE Healthcare today announced the availability of Serena Bright™ in the United States. Serena Bright™ is the industry’s first contrast-enhanced guided biopsy solution and will help empower clinicians and patients in their fight against breast cancer. Receiving U.S. Food and Drug Administration 510(k) clearance in June, this technology allows clinicians to conduct breast biopsy exams with contrast guidance using the same mammography equipment, in the same room and with the same staff as the screening or diagnostic mammogram.

Typically, for lesions found with contrast-enhanced mammography and not seen on ultrasound, clinicians will use other imaging guidance, such as MRI, for biopsy procedures. Following an abnormal mammogram, it can take several weeks to get an MRI biopsy.1 As the backlog of cancer screenings caused by COVID-19 persists, delays in diagnosis will likely lead to presentation at more advanced stages and poorer clinical outcomes, with one study pointing to a potential increase of 33,890 excessive cancer deaths in the U.S. alone.2.

The results of the trading session contributed to over 73586652 shares changing hands. Over the past one week, the price volatility of General Electric Company stands at 3.48% while the volatility over the past one month is 3.59%.

The market cap for GE stock reached $60.38 billion, with 8.75 billion shares outstanding and 8.73 billion shares in the current float. Compared to the average trading volume of 97.12M shares, GE reached a trading volume of 73586652 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about General Electric Company [GE]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GE shares is $8.01 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GE stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for General Electric Company shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 09, 2020. While these analysts kept the previous recommendation, Argus dropped their target price from $15 to $10. The new note on the price target was released on April 30, 2020, representing the official price target for General Electric Company stock. Previously, the target price had yet another drop from $11 to $9, while Citigroup kept a Buy rating on GE stock. On March 02, 2020, analysts increased their price target for GE shares from 5 to 8.

The Average True Range (ATR) for General Electric Company is set at 0.28, with the Price to Sales ratio for GE stock in the period of the last 12 months amounting to 0.69. The Price to Book ratio for the last quarter was 1.90, with the Price to Cash per share for the same quarter was set at 5.02. Price to Free Cash Flow for GE in the course of the last twelve months was 29.06.

How has GE stock performed recently?

General Electric Company [GE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.33. With this latest performance, GE shares gained by 17.12% in over the last four-week period, additionally plugging by 12.27% over the last 6 months – not to mention a drop of -19.21% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GE stock in for the last two-week period is set at 67.38, with the RSI for the last a single of trading hit 75.35, and the three-weeks RSI is set at 63.12 for General Electric Company [GE]. The present Moving Average for the last 50 days of trading for this stock 6.49, while it was recorded at 7.22 for the last single week of trading, and 7.80 for the last 200 days.

General Electric Company [GE]: Deeper insight into the fundamentals

Earnings analysis for General Electric Company [GE]

With the latest financial reports released by the company, General Electric Company posted 0.15/share EPS, while the average EPS was predicted by analysts to be reported at 0.11/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 36.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for General Electric Company go to -8.18%.

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