GE's new 'game changer' CEO inspires confidence and two analyst upgrades

"It's a definitive signal of cultural change, performance accountability and that current problems are fixable," Coe wrote in a note Tuesday

General Electric won two upgrades to the equivalent of a buy rating on Tuesday, as the board’s appointment of Larry Culp as CEO is seen as a “game changer” that should instill the market with confidence in the company’s turnaround prospects, said analysts including Wolfe Research’s Nigel Coe.

Investors should have greater conviction that Culp will be able to manage the strategic and tactical execution needed to move past the power unit challenges and contingent liabilities, Coe wrote in raising the stock to outperform from peer perform and lifting his price target to $16. RBC analyst Deane Dray, who also upgraded