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GE Extending Uptrend After Upgrade By Barclays

Extending the upward move seen over the past several sessions, shares of General Electric Co. (GE) are seeing notable strength in afternoon trading on Monday. GE is currently up by 3.1 percent after reaching a two-month intraday high.

The advance by GE comes after Barclays upgraded its rating on the industrial conglomerate's stock to Overweight from Equal Weight.

"Even the most hardened skeptic might want to re-consider following the CEO change," wrote Barclays analyst Julian Mitchell.

GE has moved significantly higher since announcing Chairman and CEO John Flannery is stepping down and will be replaced by Lawrence Culp.

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