General Electric shares are far overvalued given the pressures facing the company over the next two years, J.P. Morgan analyst Stephen Tusa said.
General Electric shares are far overvalued given the pressures facing the company over the next two years, J.P. Morgan analyst Stephen Tusa said in a note on Tuesday.
"As long as this sentiment prevails, we don't think the stock can bottom. Our [price target] remains $6 and looks generous after today's news," Tusa said. He is widely regarded as the top GE analyst on Wall Street, gaining a following after his negative call in May 2016. "Unlike prior episodes that were based on next year, this seems to stretch into 2021, a whole new level," Tusa said in his note after the event. Culp told Tusa that the company's struggling power business will continue to face challenges for"a couple years" longer.
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