Analysts at Oppenheimer on Tuesday upgraded their rating on General Electric Co. stock to the equivalent of buy, reflecting “strong” momentum for its aviation business, “consistent and broad-based profitability” for its power business, and the fact that the health-care unit is on track for a spinoff. The analysts also raised their price target on the stock to $104, representing an upside of around 22% from Tuesday prices. GE last week said its board officially approved the GE HealthCare spinoff, with the unit becoming a corporation to be named GE HealthCare Technologies Inc. The company is expected to begin trading on the Nasdaq on Jan. 4. Shares of GE have lost about 11% so far this year, compared with losses of around 17% for the S&P 500 index.
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