General Electric (NYSE:GE) Has More Upside Says Goldman (NYSE:GS)

Even though the announcement that General Electric (NYSE:GE) CEO Jeffrey Immelt will be leading a government business committee for the Obama administration, something that leads him and GE susceptible to conflicts of interest, Goldman Sachs (NYSE:GS) believes the company still has some upside to it, even after their recent boost in share price.

Specifically noted by Goldman as GE catalysts are continuing industrial equipment orders. Overall, Goldman sees another 17 percent upside for the company.

Goldman increased their 2011 EPS from $1.30 to $1.35 and 2012 from $1.60 to $1.70. They also introduced EPS for 2013 of $2.00.

There is also a high probability they will have a GESC dividend to the parent sometime in 2011. The market has 2012 as the target for that to happen.

GE was trading at $20.03, up $0.29, or 1.47 percent, as of 1:45 PM EST. They boosted their price target on GE from $22 to $23.