General Electric Analysts Boost Their Forecasts After Upbeat Q2 Results
Portfolio Pulse from Lisa Levin
General Electric Co (NYSE:GE) reported better-than-expected Q2 FY23 results with revenues of $16.70 billion, an 18% YoY increase, beating the consensus of $15 billion. Adjusted EPS was $0.68, up from $0.36 a year ago, beating the consensus of $0.46. Following the announcement, GE shares rose 6.3% to close at $117.16 on Tuesday. Analysts from Goldman Sachs and Barclays raised their price targets on GE.
July 26, 2023 | 11:55 am
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General Electric reported strong Q2 FY23 results, beating revenue and EPS consensus. This led to a rise in GE's share price and analysts from Goldman Sachs and Barclays raising their price targets.
General Electric's better-than-expected Q2 FY23 results indicate a strong financial performance, which is a positive signal to investors. This led to a rise in the company's share price. Additionally, the raised price targets from Goldman Sachs and Barclays show increased confidence in the company's future performance, which could further drive the stock price up in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100