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By Market News Video Staff, Wednesday, September 15, 10:05 AM ET
This morning, Citigroup initiated coverage on shares of General Electric (NYSE:GE) with a Buy rating as the firm believes earnings growth will resume over the next twelve months. The firm expects GE Capital to lead the charge, possibly growing its earnings by as much as 50%. With the buy rating, Citigroup set a price target of $19 per share, or 18% higher than the current share price.
A few ETFs that stand to benefit if the analyst at Citigroup is correct are the Vanguard Industrials ETF (AMEX:VIS), which holds more than 12% of its portfolio in GE stock; the iShares Dow Jones US Industrial Sector ETF (AMEX:IYJ), which holds 11.3% of its portfolio in GE stock; and the Industrial Select Sector SPDR Fund (AMEX:XLI), which holds 11% of its portfolio in GE stock.
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