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$GE,...GE's relative price weakness offers buying opportunity, Argus says

GE (GE +0.2%) has underperformed the S&P 500 YTD, and Argus analysts think the recent weakness has created a buying opportunity based on current valuation.

The analysts see the higher-margin backlog, solid execution in the industrial businesses, and a healthier GE Capital as strong positives, and believes improving power generation activity has fueled demand for turbines and other oil and gas equipment, and an upswing in the commercial aviation market is flowing through to GE Aviation's order book.

On the other hand, J.P. Morgan is not feeling so optimistic about GE's prospects, seeing further negative fundamental catalysts on oil and gas and earnings revisions