General Electric (GE) shares are up 3% after analysts from Barclays boost their price target on the stock as the group attempts to realign its restructuring plans under new CEO Larry Culp.
TheStreet's Martin Baccardax reports Barclays raised its price target on the group to $16 a share, and upgraded its rating to "overweight", as it argued that only "the most hardened skeptic might want to re-consider following the CEO change".
GE removed John Flannery as chairman and CEO earlier this month, announcing that they selected former Danaher CEO Lawrence Culp to take his place.
The board -- and investors -- had all gotten very frustrated lately with the inactivity of the company under Flannery's short reign.
But who is Culp and how is he going to help the company? Watch the video for more.
Want to Buy $1 Worth of Stock for 90 Cents or Less? Click here to register for a free online video in which TheStreet's retirement expert Robert Powell and an all-star panel. The webinar is sponsored by Nuveen.