Followers | 680 |
Posts | 141228 |
Boards Moderated | 36 |
Alias Born | 03/10/2004 |
Thursday, March 04, 2021 12:11:41 PM
By: Schaeffer's Investment Research | March 4, 2021
• Morgan Stanley expects sustainable earnings growth for GE in 2023
• The security has added over 115% in the last six months
The shares of General Electric Company (NYSE:GE) are up 1.5% at $13.64 at last check, after the security received a price-target hike from Morgan Stanley to $17 from $13 this morning, implying an upside of roughly 26.5% to the stock's Wednesday close. The brokerage firm views the company's investor event on March 10 as a major catalyst, noting it expects GE's profitable aviation segment to return to normal levels this year, which would then open the door for sustainable earnings growth as soon as 2023.
Digging deeper, the security has been chopping higher on the charts since October to notch a fresh three-year high of $14.12 earlier today. The 40-day moving average has been instrumental in GE's climb, containing a late January pullback and helping shares overcome overhead pressure at the $12.30 level. In the last six months, the stock has added 115.3%.
Analysts were already optimistic towards General electric stock, with eight of the 12 in question carrying a "strong buy" rating, while the remaining four said "hold." Meanwhile, the 12-month consensus target price of $12.62 is a 7.5% discount to current levels, indicating more price-target hikes could be in store for the security going forward.
The options pits are also firmly in the bullish camp, with an appetite for calls. This is per GE's 50-day call//put volume ratio of 7.02 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which sits higher than 95% of readings from the past year. In other words, calls are being picked up at a faster-than-usual clip.
That optimism is only getting reiterated today. So far, 345,000 calls have crossed the tape, which is four times the intraday average, and more than five times the number of puts traded. Most popular is the 3/5 14-strike call, followed by the 14.50-strike call in the same weekly series, with new positions currently being opened at both. This suggests buyers of these options expect more upside for GE by the time the contracts expire tomorrow.
What's more, GE options are affordably priced at the moment. The stock's Schaeffer's Volatility Index (SVI) of 45% sits higher than just 9% of all other readings in its annual range. In other words, this means options players are pricing in relatively low volatility expectations right now.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Recent GE News
- Form 8-K - Current report • Edgar (US Regulatory) • 05/10/2024 10:15:41 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/08/2024 08:34:20 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/08/2024 08:32:54 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/08/2024 08:31:14 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/08/2024 08:29:26 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/08/2024 08:27:50 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/08/2024 08:25:55 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/08/2024 08:24:18 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/08/2024 08:22:48 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/08/2024 08:21:23 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 05/06/2024 08:15:30 PM
- U.S. Index Futures Rise in Pre-Market, Oil Prices Dip Slightly • IH Market News • 04/23/2024 11:26:41 AM
- Costco Increases Dividend by 14%, Meta Introduces ‘Artemis’ AI Chip, and More News • IH Market News • 04/11/2024 11:24:54 AM
- GE Aerospace Board of Directors Authorizes Regular Quarterly Dividend • Business Wire • 04/05/2024 04:02:00 PM
- Cal-Maine Surges on Strong Quarterly Performance, Taiwan Earthquake Disrupts Tech Supply Chain, and More • IH Market News • 04/03/2024 11:12:20 AM
- GE Aerospace Launches as Independent, Investment-Grade Public Company Following Completion of GE Vernova Spin-Off • Business Wire • 04/02/2024 10:33:00 AM
- Walgreens Slashes Annual Profit Forecast; MillerKnoll Nosedives 17% on Bleak 4Q Outlook, and Latest News • IH Market News • 03/28/2024 01:48:04 PM
- GE Vernova and Solventum Set to Join S&P 500; Dentsply Sirona to Join S&P MidCap 400; Others to Join S&P SmallCap 600 • PR Newswire (US) • 03/27/2024 10:12:00 PM
- Apple & Google in Talks for Gemini AI on iPhone, Nvidia’s GTC Conference Today, and Latest News • IH Market News • 03/18/2024 11:10:46 AM
- Intel Loses Pentagon Funding, Shell Plans 20% Business Team Reduction, and Latest News • IH Market News • 03/13/2024 11:02:03 AM
- Sam Altman Rejoins OpenAI Board; Coinbase, MicroStrategy Surge Pre-Market Amidst Bitcoin’s Latest Milestone • IH Market News • 03/11/2024 10:39:03 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/07/2024 11:20:28 AM
- GE Aerospace Hosts 2024 Investor Day • Business Wire • 03/07/2024 11:15:00 AM
- GE Vernova Hosts 2024 Investor Day • Business Wire • 03/06/2024 11:15:00 AM
Avant Technologies Equipping AI-Managed Data Center with High Performance Computing Systems • AVAI • May 10, 2024 8:00 AM
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM
Element79 Gold Corp Successfully Closes Maverick Springs Option Agreement • ELEM • May 8, 2024 9:05 AM
Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM