Selected stock price target news of the day - December 20th, 2023

By: Matthew Otto

GE Surges in 2023 Amidst Strategic Transformation and Analyst Optimism

General Electric has witnessed a surge inrevenue in 2023. The driving factors behind this performance include improving profitability and the company’s ongoing transformation, marked by the forthcoming split of its power and aviation businesses, scheduled for the first half of 2024. Analysts, such as those from RBC, are expressing confidence in GE’s future, reflected in the upward revision of their target price to $150 a share.

Analyst Optimism Propels as Price Targets Increase

Wolfe Research analyst Myles Walton initiated an Outperform rating and a price target of $140.
RBC Capital analyst Deane Dray maintained an Outperform rating and raised the price target from $131 to $150.
Wells Fargo analyst Joe O’Dea upgraded from Equal-Weight to Overweight and the price target from $115 to $144.
Citigroup analyst Andrew Kaplowitz reiterated a Buy rating and increased the price target from $135 to $148.

Which Analyst has the best track record to show on GE?

Analyst Christopher Glynn (OPPENHEIMER) currently has the highest performing score on GE with 8/8 (100%) price target fulfillment ratio. His price targets carry an average of $4.08 (4.17%) potential upside. General Electric stock price reaches these price targets on average within 36 days.

Boeing Soars on Lufthansa Deal and Wall Street Optimism

Boeing was boosted by German airline Lufthansa’s order of 100 MAX jets. This marks Lufthansa’s first single-aisle order from Boeing in about three decades. The company currently holds a backlog of approximately 5,300 jets, with over 4,000 belonging to the 737 model. Despite challenges posed by the grounding of MAX jets from March 2019 to November 2020, Boeing is set to deliver around 520 jets in 2023. Analysts, such as BofA Securities’ Ronald Epstein, are raising their price targets for Boeing stock, with Epstein increasing his target to $275, citing an expected generation of $15 free cash flow per share by 2026 and a positive impact from a market pricing shift in favor of easing interest rates. Boeing’s production of MAX jets is also on an upward trajectory, with plans to exceed 30 a month in December, reaching 38 a month by 2024.

Analysts Bullish on Boeing: Price Targets Surge

BofA Securities analyst Ronald Epstein maintained a Buy rating and raised the price target from $250 to $275.
Susquehanna analyst Charles Minervino boosted the price target to $306.

Which Analyst has the best track record to show on BA?

Analyst Ronald Epstein (BAML) currently has the highest performing score on BA with 9/13 (69.23%) price target fulfillment ratio. His price targets carry an average of $66.25 (28.34%) potential upside. Boeing stock price reaches these price targets on average within 262 days.

Microsoft’s 2023 Performance and 2024 Outlook

Microsoft purchase of OpenAI, the developer behind ChatGPT, reflecting the company’s strategic positioning in the artificial intelligence sector. Oppenheimer identifies Microsoft as its top large-cap stock pick for 2024 in the cloud and communications sector, with an Outperform rating and a $410 price target. Analyst Timothy Horan underscores Microsoft’s unique AI infrastructure, featuring large language models and widespread enterprise relationships, which position it favorably for capitalizing on the growing demand for AI across various industries. Furthermore, Oppenheimer anticipates a robust year ahead for cloud computing, identifying Microsoft’s Azure product as a strong player with indications of growing demand. The cloud computing business, already a high-growth focus, is projected to expand further in 2024.

Analysts Bullish: Microsoft Targets Raised

Oppenheimer analyst Timothy Horan maintained an Outperform rating and set a target price of $410.
Mizuho’s Gregg Moskowitz held a Buy rating and raised the price target from $420 to $450.

Which Analyst has the best track record to show on MSFT?

Analyst Blair Abernethy (ROSENBLATT) currently has the highest performing score on MSFT with 9/9 (100%) price target fulfillment ratio. His price targets carry an average of $47.11 (14.37%) potential upside. Microsoft stock price reaches these price targets on average within 171 days.