Source: Benzinga Feeds
After a miserable few years for General Electric Company (NYSE: GE ) investors, the stock jumped 3% on Thursday after one analyst upgraded GE and said the company’s fundamental outlook is finally improving. The Analyst Morgan Stanley analyst Joshua Pokrzywinski upgraded GE from Equal-Weight to Overweight and raised his price target from $11 to $14. The Thesis Pokrzywinski said his outlook for 2021 GE cash flow suggests risk may finally be to the upside. In the near-term, disruptions from the 737 Max grounding will likely weigh on GE’s 2020 cash flow, Pokrzywinski said. However, the 737 Max issues should be long forgotten byu 2021, allowing GE to finally turn the corner from a fundamental perspective. “We expect 2021 Aviation FCF to expand by $1B as the headwind rolls off and the cash from BA starts to come in,” Pokrzywinski wrote in … Full story available on Benzinga.com
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