GE's stock rallies after Morgan Stanley analyst raises price target, supplanting UBS analyst as 2nd-most bullish

Shares of General Electric Co. hiked up 1.5% in midday trading Thursday, after Morgan Stanley analyst Josh Pokrzywinski reiterated his overweight rating on the industrial conglomerate while boosting his stock price target by 31% to $17. That would make Pokrzywinski the second-most-bullish analyst, of the 21 analysts surveyed by FactSet, to supplant UBS's Markus Mittermaier who had moved into that place on Wednesday. Pokrzywinski's raised target comes ahead of "2021 GE Investor Outlook" event scheduled for March 10. Pokrzywinski said the event will be a "catalyst" for GE's stock, as it "sets up a multi-year path to above-consensus [free cash flow], with "solid growth" in the core businesses down the road. GE's stock, which is on track for the highest close since May 25, 2018, has climbed 25.4% over the past three months, while the SPDR Industrial Select Sector ETF has gained 3.3% and the S&P 500 has tacked on 2.7%.

GE's stock rallies after Morgan Stanley analyst raises price target, supplanting UBS analyst as 2nd-most bullish

Portions of General Electric Co. climbed up 1.5% in late morning exchanging Thursday, after Morgan Stanley expert Josh Pokrzywinski emphasized his overweight rating on the mechanical aggregate while boosting his stock value focus by 31% to $17. That would make Pokrzywinski the second-most-bullish examiner, of the 21 experts overviewed by FactSet, to displace UBS's Markus Mittermaier who had moved into that put on Wednesday. Pokrzywinski's raised objective comes in front of "2021 GE Investor Outlook" occasion booked for March 10. Pokrzywinski said the occasion will be a "impetus" for GE's stock, as it "sets up a multi-year way to above-agreement [free money flow], with "strong development" in the center organizations as it were. GE's stock, which is on target for the most noteworthy close since May 25, 2018, has climbed 25.4% in the course of recent months, while the SPDR Industrial Select Sector ETF has acquired 3.3% and the S&P 500 has attached 2.7%.