‘A relief’ ‘a step in the right direction’

General Electric’s year-end earnings report brought reassuring news to investors, largely because it contained no nasty surprises this quarter.

And it showed enough cash flow to keep meeting obligations, easing credit concerns.

Wall Street analysts explained GE’s massive stock rally following its fourth-quarter report. Analysts were largely positive in their feedback but with some notable caveats. Credit Suisse’s John Walsh said CEO Larry Culp has chopped “lots of wood” to try to turn around GE but warned there is “still more to chop” before the company’s rebound begins in earnest.

“There should be a relief that the earnings and cash flow cadence this quarter were reasonably close to expectations and certainly did not present any new surprises,” RBC Capitals analyst Deane Dray said in a note.

Citi Research’s Andrew Kaplowitz said the fourth quarter represents “a step in the right direction toward recognizing the significant value we still see in GE shares.” Kaplowitz added that there remain “significant unanswered questions with regards to GE’s near- and longer-term potential.”

GE shares were up more than 18 percent at one point and are currently on pace for their biggest one-day move in nine years, up 13 percent midday Wednesday.

Here’s what major analysts had to say about GE’s results:

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