General Electric Back Above $15 Level (GE)

General Electric (NYSE:GE) shares have done it again, above the $15 price level as they finish the week up 7.5%.  But can GE shares hold at the $15 price?

GE helped the Dow Jones stay afloat today, but for the year, GE shares are down 5%.  Could be worse, you could have owned General Electric since 2008.  If you were a long-term GE shareholder and picked up shares back in 2008 you would have lost more than 50% of your holdings.  GE shares in early 2008 traded in the high $30 range, a far cry from today's price of $15.  Its a huge number considering General Electric has 10.65 billion shares oustanding, a $15 price change comes out to $159.75 billion erased in market cap, its unearthly.

However, the analysts have finally come out to play with GE and today's 6% rally in the stock was well deserved.  On Thursday Bernstein upgraded GE to outperform from market-perform and today Oppenheimer lifted its rating on GE to outperform from perform.  According to the WSJ.com - Among many factors for the recent upgrades, both Bernstein's Mr. Winoker and Oppenheimer's Mr. Glynn cited an attractive risk/reward balance at GE and signs of stabilization, or at least less risk, at the company's financing arm, General Electric Capital Corp. In the third quarter, GE Capital's profits tumbled 87%, putting a gloomy cloud over the conglomerate's earnings.

Can GE shares finally break past the $15 level, dare I say $16?

Both Oppenheimer and Bernstein set some impressive target prices today, how about $18 and $19.  GE at $19?  Well, they do bring 'good things to life'.

Disclaimer: No positions in GE.