NEW YORK (TheStreet) -- General Electric (GE) rose Monday after news that the company's unit GE Energy Financial Services had invested in a 32-megawatt solar photovoltaic power project in Japan called Kumenan.
This investment with project developer Pacifico Energy is part of GE Energy Financial Services' plan to invest more than $1 billion a year in renewable energy projects around the globe. GE Energy Financial Services funded the project on a non-recourse project finance basis. A Y11B loan from The Bank of Tokyo-Mitsubishi UFJ and The Chugoku Bank Ltd. also supported the investment. Additional financial details were not disclosed.
The stock was up 0.94% to $27.43 at 2:16 p.m.
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Separately, TheStreet Ratings team rates GENERAL ELECTRIC CO as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate GENERAL ELECTRIC CO (GE) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, increase in stock price during the past year and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows: