1 Upgraded Large-Cap Stock to Purchase This Week

With an $85.29 billion market capitalization, General Electric Company (GE) is a high-tech industrial company. The company offers gas and steam turbines, a full balance of…

plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.

GE Renewable Energy recently announced signing a strategic partnership agreement with Hyundai Electric. Under this agreement, Hyundai Electric is expected to serve as a manufacturing associate in South Korea. This should help the company serve its local customers better.

In November, GE announced that its Board of Directors had approved the previously announced spin-off of its healthcare business, GE Healthcare Holding LLC. The company is expected to begin trading on Nasdaq on January 4, 2023, under the “GEHC” ticker.

Given its strong fundamentals, on December 14, GE was upgraded from an overall rating of C (Neutral) to B (Buy) in our proprietary POWR Ratings system.

The stock has gained 18.3% over the past six months and 16.4% over the past three months to close its last trading session at $78.06.

Here are the factors that could influence GE’s performance in the upcoming months…

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