shares of general electric co surged tuesday after longtime nonbull john walsh an analyst at credit suisse said the recent selloff has presented an opportunity to buy into the cyclical aerospace recovery play the industrial conglomerate’s stock ge opened at 9878 well above monday’s intraday high of 9744 and was up 25 in morning trading toward the highest close in six weeks the stock has now run up 97 in two weeks since it closed at a 10month low of 8998 on dec 20 through monday however the stock had dropped 135 since nov 9 when ge announced plans to split into three separate publicly traded companies credit suisse’s walsh upgraded ge to outperform after being at neutral for at least the past three years he kept his stock price target at 122 which implied about 24 upside from current levels “the 14 pullback since the separation announcement on november 9 has created an opportunity for both absolute and relative price appreciation as ge should benefit from a cyclical recovery in 2022” walsh wrote in a note to clients “we also see potential for a ‘rush to propulsion’ as airline customers have managed green time throughout the pandemic” he said he still believes there are some strategic longterm uncertainties hanging over the stock and that’s why he doesn’t consider it a “top pick” but he does believe the split plans come from “a position of strength” walsh raised his estimate for adjusted earnings per share in 2022 to 400 from 380 and his 2023 forecast to 553 from 500 that compares with the factset eps consensus for 2022 of 400 and for 2023 of 566 ge’s stock has gained 178 over the past 12 months while the spdr industrial select sector exchangetraded fund xli has climbed 237 and the sp 500 index spx has advanced 294