Shares of General Electric are rising in Friday trading after the conglomerate posted higher-than-expected third-quarter net income, boosted by sales of jet engines and oil and gas equipment and improved margins. Excluding items, earnings came in at 38 cents a share, topping analyst estimates of about 37 cents, according to Thomson Reuters. Barclays analyst Scott Davis said in a note, 'At the least this may be a relief rally, and possibly something bigger as GE is normally a good 4Q stock and momentum on the name is improving. In other words, bears seem to be finding less and less each quarter to pick on. Eventually the bull case should come to the forefront, we think.’ He has an overweight rating on the stock with a $32 price target.
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