Citi Publishes GE Update

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.