GE (GE) Breaks Above $13 Level; Stock Up 2%+

After gapping about 1% higher, shares of General Electric (NYSE: GE) are now trading well over the $13 level, currently up more than 2.3% to $13.40. Just minutes after the opening bell, the stock has already traded more than 13 million shares.

GE's stock may be seeing upside today on the back of a bullish Deutsche Bank note. The firm raised its price target on shares of GE from $12 to $13, while maintaining a Neutral rating. Deutsche cited GE's 10-Q, saying "A review of GE's 10-Q led to no material change in our investment thesis, but we are adjusting our GE Capital valuation. Although there is still myriad uncertainty related to GECC, the minimum value we can justify is $1/share, based on low-end US comps."