GE shares are trading higher after Wells Fargo upgraded the stock from Equal-Weight to Overweight and raised its price target from $115 to $144.
Portfolio Pulse from Benzinga Newsdesk
GE's stock is trading higher following an upgrade by Wells Fargo from Equal-Weight to Overweight, with a price target increase from $115 to $144.
December 15, 2023 | 3:35 pm
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Wells Fargo upgraded GE's stock from Equal-Weight to Overweight and increased the price target from $115 to $144, indicating a positive outlook on the company's future performance.
Analyst upgrades typically lead to a positive short-term reaction in the stock market as they suggest a better-than-previously-expected future performance of the company. The increase in price target further strengthens investor confidence, likely leading to a rise in GE's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100