UBS analyst Steven Winoker upgraded General Electric (GE) to Buy from Neutral with a $13 price target. The shares closed yesterday down 8%, or 92c, to $10.18 following the company’s Q3 earnings report and dividend cut.
Winoker has conviction that new CEO Larry Culp can lead a turnaround of the business and his upside/downside analysis for shares now stands at a favorable 3:1 skew following the recent selloff.
“Peak uncertainty has been reached” and GE’s portfolio moves should improve visibility and strengthen its balance sheet, Winoker tells investors in a research note.
