NEW YORK ( TheStreet) - General Electric (GE - Get Report) had its price target lifted by Nomura Friday, as analysts at the Japanese broker argue investor focus for the industrial sector is shifting to 2013 due to "noise" that makes it difficult to assess 2012 performance.
Nomura retained its "buy" rating on General Electric while raising its price target to $22 from $21, based on multiple of 15 times 2013 projected earnings for the conglomerate's financial unit and 10 times projections for GE Capital.
General Electric shares were up 0.21% to $19.07 in early trading Friday.
Ten industrial companies in all saw their price targets revised upward by Nomura's analysts, while two were left unchanged and none were lowered. The analysts left their overall sector rating at "Neutral" in the two-page report, and did not change overall recommendations on any company.The companies with the biggest upside from Thursday's closing prices if they hit Nomura's target are Dover Corp. (DOV), Rockwell Automation (ROK) and Danaher Corp. (DHR). -- Written by Dan Freed in New York. Follow me on Twitter
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts