Shares of General Electric (GE) – Get Report have been volatile lately but bulls are getting back in control.
On Friday, Goldman Sachs analysts resumed their coverage with a buy rating and a $10 price target.
The upgrade comes just a few days after it was reported that GE received a Wells Notice amid an insurance accounting probe.
Wells Notice, accounting probe – not terms you like to hear about a stock when making the bull case. But Goldman Sachs said GE is becoming a “leaner, structurally more productive company with better capital discipline.”
That may be true, although fundamentally, there are still plenty of concerns. However, I am encouraged by the way the stock has been trading the last few days despite what should be perceived as negative news.
You know what they say: Nothing is more bullish then when a stock rallies on bad news. Let’s