Strength in GE’s Industrial Portfolio Manages to Offset Oil and Gas Weakness in Third Quarter
Following wide-moat GE’s third-quarter earnings report, we’re maintaining our fair value estimate of $30 per share. GE managed to eke out industrials' segment organic revenue growth of 1% year over year, as ongoing weakness in the oil and gas business masked otherwise robust 6% organic sales growth throughout the rest of the industrial portfolio. In particular, sales strength persisted in power, aviation, renewables, and the ongoing turnaround in healthcare as new products in each of these segme...
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