Shares of General Electric Co fell about 6 percent on Monday after J.P. Morgan&#...
FILE PHOTO: The logo of U.S. conglomerate General Electric is pictured at the company's site of its energy branch in Belfort, France, February 5, 2019. REUTERS/Vincent Kessler/File Photo
Tusa, a long-time bear on the stock, cited significant liabilities and little free cash flow to support the company’s ongoing reset and cut his rating to “underweight” from “neutral”, an about-turn from his upgrade in December. Tusa said investors are “significantly over projecting” the bounce in free cash flow and sees weakness in the company’s power and renewables unit.
GE’s new Chief Executive Officer Larry Culp in March called 2019 a “reset year” and said free cash flow at GE Power would turn positive only in 2021.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks making the biggest moves premarket: Boeing, Wells Fargo, Morgan Stanley, GE & moreSome of the names on the move ahead of the open.
Read more »
Stock futures fall | GE shares dive | Pinterest sets its IPO priceFutures are pointing to a lower Wall Street open, meaning that the S&P 500's win streak could come to an end.
Read more »
GE shares dive after downgrade by top analyst Tusa at JP Morgan; Price target cut to $5J.P. Morgan's Stephen Tusa downgraded General Electric shares to underweight from Neutral and cut his 12-month price target to $5 from $6.
Read more »
EU fines GE $58 million over misleading data in Danish dealEU antitrust regulators on Monday fined U.S. conglomerate General Electric 52 mi...
Read more »
Cramer: JP Morgan's GE downgrade is a 'working document' Culp can use to fix the companyGE's Larry Culp can turn J.P. Morgan's recent downgrade of GE shares into a positive, using the firm's note as a sort of road map to fix the struggling conglomerate, CNBC's Jim Cramer says.
Read more »
Morgan Stanley cuts Tesla price target and lowers Model S and Model X sales forecastTesla's disappointing first quarter delivery number led Morgan Stanley analyst Adam Jonas to lower his price target on the stock from $260 to $240, and cut forecasts for a number of key financial metrics.
Read more »
Morgan Stanley slashes its Tesla target for the 3rd time this yearMorgan Stanley's team of auto analysts, led by Adam Jonas, cut its price target on Tesla shares on Monday for the third time this year.
Read more »