General Electric: Analyst Raises Target Price

General Electric shares may benefit from an estimated $5 billion increase to the value of its finance unit, a Deutsche Bank analyst said Wednesday.
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General Electric

(GE) - Get Report

shares may benefit from an estimated $5 billion increase to the value of its finance unit, according to a Deutsche Bank report released Wednesday.

Nigel Coe, the lead GE analyst for the German bank, lifted his target to $14 from $13, after the banks models predicted a $5 billion foreign exchange-related increase to GE Capital's tangible book value in the second quarter, the report stated. Coe kept his earnings estimates unchanged, and retained his overall recommendation at hold.

GE shares were down 2.3% to $13.48 in mid-morning trading Wednesday, roughly in line with other large industrial companies like

United Technologies

,

Honeywell

(HON) - Get Report

and

3M

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.