GE: Jefferies initiates coverage with hold rating
(CercleFinance.com) - Jefferies has begun to monitor General Electric shares with a "hold" rating and a target price of 100 dollars (current price: 101 dollars), calling it " a transformational story with a new pathway towards simplification as the company looks to split by 2024".
"That said, we believe this announcement is the last positive catalyst from these efforts, and investors should refocus on business fundamentals," the broker summarised.
Jefferies sees "significant headwinds from the global transition to net zero emissions as secular declines in Power are not offset by the lower margin Renewables business".
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