Citi Reiterates Buy on General Electric

Citi is out with its report today on General Electric GE, reiterating Buy. In a note to clients, Citi writes, "The minor grumblings we heard about the 2Q earnings quality was that lower loss provisions added roughly 3c vs our estimates. Overall results support our view that GE is an attractive turnaround story that should be bought ahead of the strong Industrial-driven earnings rebound in 2012. We maintain our estimates and $25 target, and reiterate our Buy rating." At the time of posting, shares of GE were trading pre-market at $18.86, down 0.95% from Friday's close.