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GE

General Electric

$13.87

-0.205 (-1.46%)

10:21
03/20/18
03/20
10:21
03/20/18
10:21

Technical Take: General Electric falls to new 52-week low

The stock was last down over 1.6% to $13.84, just 4c off the new 52-week low set at $13.80. Below that low next support is at $13.40 and then at the $13 area. Resistance is at the current session high at $14.11.

GE General Electric
$13.87

-0.205 (-1.46%)

03/05/18
WBLR
03/05/18
NO CHANGE
WBLR
Outperform
William Blair sees GE shares stabilizing, then heading to $20-$22
Following last week's 2017 annual filing release and announcement of three "highly capable" new directors, shares of General Electric should now begin to stabilize, William Blair analyst Nicholas Heymann tells investors in a research note titled "GE Has Not Moved Its Headquarters to Atlantis; While Hurdles Remain, GE Has the Resources to Address Them." The company's year-end financials did not include any new material disclosures likely to adversely affect its future fundamental performance, Heymann argues. The analyst lays out five reasons why GE shares are likely to offer "material upside potential over the near and intermediate time horizon." They include oil prices nearing over three-year highs, the CEO's belief that shareholder and bondholder lawsuits could be resolved without material adverse financial impact, the performance of GE's aviation and healthcare businesses, improving cash generation, and the company being well positioned to "materially reduce" its underfunded pension plan in 2018. Heymann keeps an Outperform rating on GE shares. The company's focus on better than expected free cash flow and accelerated pace of asset sales are likely to enable the shares to return to a "normalized" valuation of 20 times "trough" 2018 adjusted earnings per share of $1.00-$1.07, or a valuation in the $20-$22 per share range. The stock closed Friday at $14.12.
03/07/18
DBAB
03/07/18
NO CHANGE
Target $13
DBAB
Sell
Trump's steel and aluminum tariffs bring risk for GE, says Deutsche Bank
Deutsche Bank analyst John Inch says that among the companies he covers, General Electric is among the most at fundamental risk from rapidly rising steel and aluminum prices. GE produces a suite of very large, expensive equipment made significantly of metal that includes steel and aluminum, Inch tells investors in a research note. He believes that rising raw material costs from President Trump's proposed tariffs "pose significant spread headwinds" for GE. This comes at a time of "depressed" global Power generation markets and "considerable GE earnings and cash pressures," Inch tells investors in a research note. The analyst keeps a Sell rating on General Electric with a $13 price target. The stock closed yesterday up 22c to $14.64.
03/09/18
DBAB
03/09/18
NO CHANGE
Target $13
DBAB
Sell
Deutsche sees 'significant downside' to GE book value from Alstom deal
General Electric's shareholders' equity has been "rapidly declining" since 2014, Deutsche Bank analyst John Inch tells investors in a research note. There could be "further significant downside" to GE's book value given the underperformance of Alstom and the likely write-down of previously outsized goodwill and intangibles booked in association with that deal, the analyst argues. Inch estimates GE Industrial shareholders' equity has declined from over $130B since its peak in early 2014 to roughly $64B today, or just $7 per GE share. Excluding GE's interest in Baker Hughes (BHGE), the company's book value declines to just $4.50 per share, Inch writes. He believes "more write-down pain could be forthcoming" since GE Industrial goodwill and intangibles have continued to increase from $66B to $103B over the past four years. Alstom, GE's largest acquisition in its history, has "significantly surprised to the downside" since GE acquired the company in late 2015, Inch contends.
03/13/18
JPMS
03/13/18
NO CHANGE
Target $11
JPMS
Underweight
General Electric price target lowered to $11 from $14 at JPMorgan
JPMorgan analyst Stephen Tusa cut his price target for General Electric shares to $11 from $14 and keeps an Underweight rating on the name. The stock closed yesterday up 16c to $15.10. With a "grind it out" strategy now in play, and proceeds from the $20B in targeted value going to the balance sheet or pension deficit reduction, GE's "normalized" level of free cash flow looks to be "well below" $1.00, Tusa tells investors in a research note titled "'Breaking The Buck': How $1 Becomes $0.50 and Why the Great Reset Is Not Quite Reset." The analyst believes a "plausible case" of sustainable free cash flow can be made in the 50c range, or just above the standing dividend. His new price target of $11 reflects 50c in sustainable free cash flow as the base case.

TODAY'S FREE FLY STORIES

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FIVE

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Liberty Oilfield Services

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VNO

Vornado

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UNP

Union Pacific

$176.70

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SO

Southern Company

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TSLA

Tesla

$273.25

2.13 (0.79%)

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GLD

SPDR Gold Shares

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OSW

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SCHW

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OSW

OneSpaWorld

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SHLD

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LB

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TSLA

Tesla

$273.25

2.13 (0.79%)

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CYCN

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ACDVF

Air Canada

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Boeing

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PFE

Pfizer

$39.37

-0.5 (-1.25%)

, LLY

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FAST

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