We had the Goldman call on Monday, "Goldman Sachs Sees Further Momentum In General Electric (GE)" and Tuesday's "GE May Resume Dividend Raises in 2011, Sherin Says" (GE)".
Here's the short version of the JPM comment from MarketBeat:
Two analysts see signs of building momentum for industrial behemoth GE, which is seeing a more than 3% pop. The notes are spookily similar. J.P. Morgan Chase analysts write in a note out today:
“We believe that, for the first time in over 10 years, the pieces are in place for earnings upside, a key to moving GE from value to momentum.”
That echoes the top of a Goldman Sachs note, subtitled “Beyond lackluster 1Q, momentum should continue to build,” published Monday night:
“After 10 years of underperformance (2000-09) relative to our Multi-industry coverage, GE is outperforming in 2010 (+13% vs. Multi-Industry +10% and the S&P 500 +3%) even as investor sentiment remains lower than any stock in our coverage, in our view.”...
...J.P. Morgan analysts spotlight the situation at GE’s problematic finance wing:
We believe that the pieces are in place for earnings upside one year out, a key to moving GE from “cheap with no catalyst” into the momentum camp. The key here, as always, is GE Capital, at which we continue to see dramatic earnings tailwind from current levels to normalized on the back of lower losses and expanding margins, which offsets a decline in earning assets and a rising tax rate....MORE
Tiernan Ray at Barron's Stocks to Watch Today blog posted:
Tuesday, March 16, 2010, 10:00a.m. ET
Goldman Sachs Industrials Unscripted Conference
Keith Sherin, Vice Chairman & CFO, GE, presented.Watch Now
...This is a breakout, look at thevolume increase on the upticks. From BigCharts:Volume yesterday was 228,571,000 shares compared to an average of 73.26 million per day over the last three months. As I said, that's a breakout.