- Barclays analyst Julian Mitchell lowered the General Electric Company (NYSE:GE) price target to $122 (an upside of 26%) from $128 and maintained an Overweight rating on the shares.
- Meanwhile, Julian Mitchell raised the Ingersoll Rand Inc (NYSE:IR) price target to $70 (an upside of 18%) from $63 and maintained an Overweight rating on the shares.
- Mitchell says 2022 looks to be shaping up as a typical “mid-cycle” year for the multi-industry sector, representing a “rebalance” following the V-shaped industrial economy over 2020-2021.
- The analyst expects slowing growth, a less accommodating policy stance, and less dispersion in growth rates across different markets.
- Sector valuation multiples appear “quite full,” Mitchell contends. He replaced General Electric with Ingersoll-Rand as his top pick.
- Price Action: GE shares are trading higher by 4.28% at $96.75 and IR higher by 0.85% at $59 on the last check Monday.
Morgan Stanley Expects Tesla To Unleash Cost And Scale Advantages As ‘Competitive Force’: Will Other Automakers Survive The Thrashing?
Morgan Stanley believed Tesla Inc (NASDAQ: TSLA) was set up to outperform the rest of the electric vehicle space after it gave up approximately $600 billion of market value
