Deutsche Bank Raises GE PT TO $23

Deutsche Bank has issued a report raising the Price Target on General Electric GE from $22 to $23 a share. According to the report, “M&A accretion and the weaker USD sees us raise our FY12e by 3% to $1.68 and our PT bumps to $23. Risk/reward is improving and GE's 2011 P/E multiple has returned to a sector discount at 14.4x, but we seek a better entry point to Buy.” GE has a Hold Rating and closed at $20.17 a share yesterday.