General Electric Co said Friday its quarterly profit fell 36 percent; however, shares rose on analyst rates despite wobbly and high demand in loan in the economic environment.
Edward Jones analyst Matt Collins said shares were upgraded to “hold” on its GE Capital unit pre-tax basis and slow decline in infrastructure related profit. Things still need to stabilize, however.
The hold rating fairly reflects the concerns over GE Capital balanced by one of the strongest infrastructure portfolios in the world, Collins said.
GE’s profit was better than expected, seeing a 36% drop to $0.26 per share from $0.43 per share a year ago. Analyst forecasted $0.21. Revenue fell 9 percent.
Shares of GE rose to $0.16 to 1.32 percent at $12.43.