Wednesday, September 9, 2009

Goldman Sachs increases GE target to 18

They are now at my GE year end target.

On July 30, Goldman upgraded GE's price target to 15 from 13 saying this:

We are upgrading GE to Buy from Neutral and raising our 12-month target to $15 (22% upside potential) from $13 as comments reported after the close by US House Financial Services Chairman Barney Frank suggest broadening support for regulatory reform that would not mandate the separation of GE Capital. While numerous uncertainties remain, we are reducing our probability assumption for a costly GECS separation to 25% from 50% and this drives our higher target. Greater potential for a manageable regulatory outcome should prompt investors to focus on longer-term benefits of economic and credit stabilization to GE shares.

This time, Goldman upgraded the entire U.S. multi-industrial sector to attractive, and also increased their Dow targets on UTX to 77, and MMM to 95.

It's a b*tch to be bearish with Goldman pimping stocks higher!

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