{"id":42779,"date":"2023-07-31T19:44:49","date_gmt":"2023-07-31T23:44:49","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/ge-stock-gets-a-downgrade-it-shouldnt-derail-its-rally\/"},"modified":"2023-07-31T19:44:51","modified_gmt":"2023-07-31T23:44:51","slug":"ge-stock-gets-a-downgrade-it-shouldnt-derail-its-rally","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=42779","title":{"rendered":"GE Stock Gets a Downgrade. It Shouldn&#8217;t Derail Its Rally."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000706432\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:66.66666666666666%;\" data-subtype=\"photo\" class=\"image-container  responsive-media article__inset__image__image\"><\/div>\n<\/figure><\/div>\n<p>Aerospace and power generation giant<br \/>\n        General Electric<br \/>\n       caught a downgrade. It isn\u2019t really impacting the stock in early trading, showing just how strong investor sentiment is these days. <\/p>\n<p>Oppenheimer analyst Christopher Glynn, in a Monday update, downgraded<br \/>\n        GE<br \/>\n       (ticker: GE) stock to the equivalent of Hold from Buy. He doesn\u2019t have a target price for shares, according to FactSet. <\/p>\n<div class=\"paywall\">\n<p>It isn\u2019t a very harsh downgrade. Glynn cites valuation, noting that recent gains are fundamentally based. He upgraded the stock in late 2020 when GE shares, adjusted for the<br \/>\n        GE HealthCare Technologies<br \/>\n       (GEHC) spinoff, were closer to $70. They closed Friday at $114.39. <\/p>\n<p>The market is taking the cut in its stride. GE stock was up about 0.2% in premarket trading Monday, while<br \/>\n        S&amp;P 500<br \/>\n       and<br \/>\n        Dow Jones Industrial Average<br \/>\n       futures were both up about 0.1%. <\/p>\n<p>With the downgrade, now about 60% of analysts covering GE shares rate them Buy. The average Buy-rating ratio for stocks in the S&amp;P 500 is about 55%. <\/p>\n<p>The average analyst price target for GE stock is about $125 a share. The average price target is up about $14 a share, from roughly $111, over the past few days. Better-than-expected second-quarter results were received well by analysts and investors. <\/p>\n<p>GE reported earnings of 68 cents a share from $15.9 billion in sales. Wall Street was looking for earnings of 46 cents from sales of $14.8 billion. GE stock is up roughly 4% since it reported numbers on July 25. <\/p>\n<p>Coming into Monday trading, GE shares are up about 75% so far this year. Shares of<br \/>\n        GE HealthCare Technologies<br \/>\n       are up about 33% so far in 2023. GE HealthCare was spun off to GE shareholders at the start of this year.<\/p>\n<p>Write to Al Root at allen.root@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/ge-stock-downgrade-general-electric-c03c412d?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Aerospace and power generation giant General Electric caught a downgrade. It isn\u2019t really impacting the stock in early trading, showing just how strong investor sentiment is these days. Oppenheimer analyst Christopher Glynn, in a Monday update, downgraded GE (ticker: GE) stock to the equivalent of Hold from Buy. He doesn\u2019t have a target price for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":42780,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-42779","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>GE Stock Gets a Downgrade. It Shouldn&#039;t Derail Its Rally. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Aerospace and power generation giant General Electric caught a downgrade. 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