Citi has published an update on General Electric GE and the effects of Japan's earthquake on its nuclear industry.
Citi writes, "The core of GE's Energy segment (20% of sales) is gas turbine power gen equipment, where GE is No. 1 globally with nearly 50% of the installed base. GE is also the US leader in wind and has recently made substantial investments in solar. Nuclear is a $1 billion (1% of sales) platform for GE, but is significantly smaller than these other energy technologies. As such, we do not expect a push-out of nuclear projects to have a material impact on GE's financial results."
GE has a Buy Rating and a $25 Price Target.
GE closed at $19.535 yesterday.
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