General Electric (GE) NewsBite - GE Price Target Lifted

Posted: Monday, September 21, 2009 10:09 AM EDT

General Electric (NYSE: GE) opened at $16.43. So far today, the stock has hit a low of $16.24 and a high of $34.51. GE is now trading at $16.37, down $0.13 (-0.79%). Over the last 52 weeks the stock has ranged from a low of $5.73 to a high of $29.20. Analysts at Morgan Stanley lifted their price target on GE this morning to $19 from $17, saying in a note to investors that the company is shrinking its GE Capital Services division and moving to accelerated debt paydown driven by strong cash flow generation from its core industrial businesses. Technical indicators for the stock are neutral and S&P gives GE a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on GE the stock seems like it could be a candidate for a November out-of-the-money bear-call credit spread above the 19 range. [ABR-Seven Summits Strategic Investments NewsBite]

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