Shares of General Electric Co fell more than 7 percent on Monday after J.P. Morg...
- Shares of General Electric Co fell more than 7 percent on Monday after J.P. Morgan’s Stephen Tusa, a top-rated analyst, downgraded the stock and further cut his price target to a Street-low of $5.
“Investors are underestimating severity of challenges and underlying risks at GE and overestimating value of small positives,” Tusa wrote in a note. GE could lose as much as $2 billion in cash from its industrial businesses in 2019, Chief Executive Officer Larry Culp said in March, setting conservative profit targets for the year.
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