GE (NYSE:GE) Plunges After Completion of Spin-Off - TipRanks.com

GE (NYSE:GE) plummeted in pre-market trading after the conglomerate completed its split into three independent companies. Following the spin-off, GE Aerospace will trade on the New York Stock Exchange (NYSE) under the ticker ‘GE’ after the market opens at 9:30 AM ET today. This spin-off transforms General Electric into a pure-play aerospace stock.

GE Aerospace is expected to announce its first-quarter earnings on April 23. Additionally, GE Vernova, the company’s energy business, will commence trading under the symbol ‘GEV’ today and will be added to the S&P 500 (SPY) index before the market opening.

Meanwhile, GE’s Healthcare (NASDAQ:GEHC) business, spun off from GE in 2022, has gained over 16% year-to-date.

Is GE a Buy or Sell?

Analysts remain bullish about GE with a Strong Buy consensus rating based on 12 Buys and three Holds. Over the past year, GE stock has soared by more than 80%, and the average GE price target of $176.71 implies an upside potential of 0.77% at current levels.