GE down 1.7% as JPMorgan turns more negative
Sep. 07, 2017 7:56 AM ETGeneral Electric Company (GE)GEBy: Stephen Alpher, SA News Editor73 Comments
- via Notable Calls
- The coming "reset" is going to be far worse than expected, says the team at JPMorgan. They see downside risk to their already well-below consensus estimates, driven by structural weakness in power, a less than hoped-for bounce in oil & gas, and a more GAAP approach to reported numbers.
- Outside of maybe Tyco in the late 90s, the team says it's never seen a large cap narrative go from $2+ EPS to something with a $1 handle and a risky dividend.
- JPMorgan sees the stock headed to $17-$19 vs. last night's close of $24.92.
- GE -1.7% premarket