Gordon Haskett analyst John Inch upgraded General Electric (GE) to Hold from Reduce with a price target of $11, up from $7.

GE's businesses, "while not particularly inspiring as a whole," appear to pose less of a risk today as the worst appears to be over for Power and Healthcare performance "could improve from current anemic levels," Inch tells investors.

The financial targets that GE recently gave for 2020 "appear to be readily achievable," contends Inch, who thinks GE can continue to further "beat" its own expectations in the near-term. However, he sees GE's fundamentals still being "fraught with risks," including outsized debt, "aggressive accounting," weak earnings quality and "a significantly mediocre to moribund portfolio mix," Inch added in his upgrade note.