General Electric Co. (NYSE: GE) is a highly diversified technology and financial services company. Its main business segments include power generation, renewable energy, healthcare, and aviation. While the stock has declined in recent years, now could be the best time to pick it up at a bargain price.
The aviation division of the company is a global producer of jet turbines, and demand is expected to increase when the world overcomes the Coronavirus Pandemic. The renewable energy division is also highly promising, especially with the company’s turbine and wind power technologies likely to see increased demand as governments around the world push for renewable energy infrastructure. The healthcare division also looks good. Post-Coronavirus, it is expected to rebound as the healthcare industry in America moves back to normal with a focus on everyday care and elective surgeries.
General Electric stock is highly speculative and its growth is reliant on a swift economic recovery in 2021. Top economists already expect that America’s rebound from the current crisis will be impressive, with GDP growth of 6.2% expected in 2021, and a year-end unemployment rate of 6.5%.
Analysts expect a short-term upside on the stock with a target price of $7.90. There’s also a 0.60% dividend yield to make this even more compelling for a bargain alternative portfolio.
- 1 Year Price Growth: -26.30%
- YTD Price Growth: -40.23%
- 3 Month Price Growth: 75%
All information is based on current and historical market data, as well as publicly available financial data. As with any financial decision, your own research is important. Stock market outcomes can never be 100% accurately predicted. Familiarity with historical data, individual industries, and individual stocks is key to developing a robust portfolio. Note that stock prices can fluctuate rapidly during trading sessions.