A Wall Street analyst feels General Electric stock (NYSE:GE) is well positioned for earnings season and has increased her price target. The news is helping GE stock, which is up as much as 5% on Thursday.
Market Analysis of General Electric Stock
General Electric stock (NYSE:GE) has been on a protracted decline, with shares falling more than 60% in the last five years and 28% in 2022 alone. In 2022, the corporation made headway in streamlining its operations and paying down debt, but it is still in the early stages of recovery.
Nicole DeBlase, a Deutsche Bank analyst, is bullish on General Electric stock (NYSE:GE) as earnings season approaches. The analyst boosted her price objective on the shares to $92, up from $88, and maintained her buy rating.
According to DeBlase, the setting for multi-industrials like GE this quarter seems “roughly comparable to the previous.” General Electric performed well in the fourth quarter, exceeding earnings forecasts and creating positive cash flow.
On October 25, GE is anticipated to report its third-quarter earnings.
So, what now for General Electric Stock?
The picture isn’t entirely rosy. DeBlase said that there is still a decline in consumer spending and home development, and she is in a “holding pattern, waiting for bad comments and lower” earnings expectations. The strong dollar may also have an impact on the performance of businesses that do significant business abroad, such as GE, and inflation may impede global economies in the coming months.
But investors who follow GE realize that the firm is a long-term rehab project, and slow and steady is a massive step in the right direction after a couple of years of apparently continual bad shocks. General Electric stock (NYSE:GE) is beating the wider markets on a day when Wall Street is soaring, and investors are feeling confident.
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Author Okoro Chinedu 
