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GE Gains As Goldman Rates It A Top Idea

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By Dhirendra Tripathi

Investing.com – General Electric (NYSE:GE) was up more than 1% in Tuesday’s trading as the company secured another bullish call, this time from Goldman Sachs (NYSE:GS) which called it a top idea whose price can jump 24%.

The bank currently rates the stock a buy with a $16 target, calling it the "ultimate" re-opening industrial stock.

According to Goldman, GE could lift its industrial free cash flow toward the high end of its $2.5 billion to $4.5 billion range over the second half of the year, with upside potential in the coming years from a recovery in the aerospace and renewable energy sectors, the two mainstays of the once-revered conglomerate.

Last Thursday, UBS (NYSE:UBS) reiterated its buy on the stock with a target of $17. A day earlier, Credit Suisse (NYSE:CS)had reiterated its outperform rating on the stock with a $14 target.

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