General Electric Stock Can See Higher Levels Led By Aviation Growth

General Electric Stock Can See Higher Levels Led By Aviation Growth

The GE logo is pictured at the General Electric plant of Montoir-de-Bretagne, Britany, on September ... [+] 15, 2020. (Photo by Sebastien SALOM-GOMIS / AFP) (Photo by SEBASTIEN SALOM-GOMIS/AFP via Getty Images)



AFP via Getty Images

We believe that General Electric stock (NYSE: GE) may be a good buying opportunity at the present time. GE stock trades near $10 currently and it is, in fact, down 13% so far this year (from $11 at the beginning of 2020). It traded at $13 in February 2020 – just before the coronavirus pandemic hit the world – and is currently 23% below that level as well. GE stock has rallied over 59% since its March lows of $6, in-line with the S&P 500 which gained about 59%. The stock price was also aided by better than expected Q3 performance led by renewable energy and power segments. Now with economies opening up, and resumption of Boeing 737 MAX aircraft production, GE can look forward to faster recovery for its aviation business, driving the stock higher from here, in our view. Our conclusion is based on our comparative analysis of General Electric stock performance during the current financial