General Electric Analysts Boost Their Forecasts After Upbeat Q2 Results

General Electric Co GE reported better-than-expected results for its second quarter.

General Electric reported second-quarter FY23 revenues of $16.70 billion, an increase of 18% year-over-year, beating the consensus of $15 billion. Adjusted EPS was $0.68, up from $0.36 a year ago, beating the consensus of $0.46.

GE raised its FY23 guidance based on first-half performance and continued second-half strength.

GE shares rose 6.3% to close at $117.16 on Tuesday, and added 0.4% in today’s pre-market trading session.

These analysts made changes to their price targets on GE following earnings announcement.

• Goldman Sachs raised the price target on GE from $121 to $133. Goldman Sachs analyst Joe Ritchie maintained a Buy rating.
• Barclays boosted the price target on GE from $125 to $131. Barclays analyst Julian Mitchell maintained an Overweight rating.

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