Wall Street Analysts Just Trimmed Price Targets for These 5 Stocks

04. General Electric Company (NYSE:GE)

Price Reaction after the Price Target Cut: -3.38 (-2.42%)

On April 2, JPMorgan Chase & Co. revised its target price for General Electric Company (NYSE:GE) downward from $180.00 to $148.00, while maintaining an “overweight” rating on the stock. General Electric Company (NYSE:GE) operates in the industrial conglomerates sector, providing a diverse range of products and services across various industries. On January 23, General Electric Company (NYSE:GE) last released its earnings. The conglomerate reported earnings per share of $1.03 for the quarter, surpassing the consensus estimate of $0.90 by $0.13. Revenue for the quarter stood at $19.42 billion, exceeding analysts’ expectations of $17.27 billion. General Electric Company (NYSE:GE) achieved a return on equity of 10.88% and a net margin of 13.95%. Quarterly revenue witnessed a 15.4% increase compared to the same quarter the previous year. In the corresponding quarter of the prior year, the company had earned $1.24 earnings per share. Market reacted negatively to the decision of price target cut by JPMorgan Chase & Co. as the stock fell by 2.42% on the closing bell on April 2. Despite this short-term market response, the “overweight” rating implies confidence in General Electric Company (NYSE:GE) long-term growth prospects. JPMorgan’s decision to maintain an optimistic view on General Electric Company (NYSE:GE) underscores its belief in the company’s ability to overcome challenges and capitalize on opportunities in the industrial sector.