GE shares currently trade at a forward price-to-earnings multiple of 11.5X, cheaper than the aforementioned 13.1X multiple of the S&P 500, and Wall Street is extremely bullish with 14 of the 17 analysts covering the stock at either strong buy (4) or buy (10) and the median 12-month price target sitting at $21.50, implying potential upside of 6.6% from Thursday's close.
Check out TheStreet's quote page for General Electric for year-to-date share performance, analyst ratings, earnings estimates and much more.
As for Friday's scheduled news, the earnings calendar is awful light on Friday with names like ChipMOS Technologies (IMOS), Dataram (DRAM), Lakes Entertainment (LACO), Orient Paper (ONP), and ReneSola (SOL) on the docket.
There is a fair amount of economic data though with the consumer price index for February due at 8:30 a.m. ET, consensus is for a 0.4% increase; industrial production for February at 9:15 a.m. ET, economists are expecting a 0.5% rise; capacity utilization for February, which is projected at 78.8%; and the University of Michigan consumer sentiment gauge for March, consensus is for a slight increase to 75.8.And finally, Cogo Group (COGO) was the big winner in after-hours action, nearly doubling on news that Jerry Kang, its chairman and CEO, is offering to buy 30% of the company's assets for a significant premium. The stock was last quoted at $3.62, up 92%, on volume of roughly 270,000, according to Nasdaq.com. Kang expects to pay between $60 million and $82 million in the transaction, based on an independent appraisal, a consideration that implies a value of $6-$8 per share for Cogo, which had a market cap of less than $65 million based on Thursday's regular session close at $1.94. --Written by Michael Baron in New York.
>To contact the writer of this article, click here: Michael Baron.
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