GE: shares up as Goldman Sachs reinstates at 'buy'
(CercleFinance.com) - Shares of GE rose over 2% in morning trading on Friday, after Goldman Sachs reinstated the stock at "buy" with a 10-dollar, 12-month price target.
In a note to clients, the brokerage said the jet engine maker will emerge from the pandemic as a "stronger company."
Goldman said its base case assumption is that a vaccine will be mass distributed over the next 12 months, allowing airline travel to resume.
With the significant resumption of air travel, many of the underlying concerns on GE's balance sheet will fall to the background, the brokerage said.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
In a note to clients, the brokerage said the jet engine maker will emerge from the pandemic as a "stronger company."
Goldman said its base case assumption is that a vaccine will be mass distributed over the next 12 months, allowing airline travel to resume.
With the significant resumption of air travel, many of the underlying concerns on GE's balance sheet will fall to the background, the brokerage said.
Copyright (c) 2020 CercleFinance.com. All rights reserved.