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GE

General Electric

$8.34

-0.265 (-3.08%)

19:20
11/14/18
11/14
19:20
11/14/18
19:20

General Electric withdraws from Nigeria rail concession, Reuters says

GE has withdrawn from a long-term concession agreement with the Nigerian government to maintain and operate narrow-gauge rail lines in the West African country, Reuters reports, citing a procurement process adviser. The project was worth around $2B for two lines connecting northern cities to other cities in the south, the report says. Reference Link

GE General Electric
$8.34

-0.265 (-3.08%)

11/02/18
GDHS
11/02/18
NO CHANGE
Target $10
GDHS
Underperform
GE may still have to raise equity capital due to tax issues, says Gordon Haskett
Gordon Haskett analyst John Inch believes GE's near-term tax liabilities could be about to significantly increase, stating that "it could have been surmised that GE might have owed up to $9B in taxes per the Tax Cuts and Jobs Act," but the company took a much lesser $3.3B charge while pointing to plans to use a variety of "offsets." If even some of these "offsets" are disallowed, the company could wind up owing possibly billions more in incremental cash taxes over the coming months, said Inch. While GE took an equity capital raise off the table, Inch believes the company may make a "future change to this decision" due to ongoing cash and liability pressures, including rising taxes. Inch keeps an Underperform rating on GE shares with a $10 price target.
11/05/18
GDHS
11/05/18
NO CHANGE
Target $10
GDHS
Underperform
Gordon Haskett sees potential downside to $5 for General Electric shares
Gordon Haskett analyst John Inch, who maintains an Underperform rating and $10 price target on General Electric shares, estimates the stock could trade down to about $5 per share, assuming that GE Capital does not ultimately face insolvency, if the market were to value the stock increasingly on a free cash basis. Right now, it seems to him that most of the bullish analysts and investors are basing their upside views on a sum-of-the-parts valuation, Inch noted. However, he sees this as "academic" as GE cannot completely dismantle due to the fact it must maintain a sufficient base to support all of GE Capital's tens of billions of dollars of debt securities, Inch tells investors.
11/09/18
JPMS
11/09/18
NO CHANGE
Target $6
JPMS
Underweight
General Electric price target lowered to $6 from $10 at JPMorgan
In a research note wrapping up the company's Q3 results, JPMorgan analyst Stephen Tusa cut his price target for shares of General Electric to $6 from $10. The stock closed yesterday down 8c to $9.10. The outcome of GE's results was worse than expected "on almost all fronts," with forecasts for free cash flow and EBITDA "moving materially lower," Tusa writes. Further, a "material change" in language from the quarterly filing "suggests a negative step down in the leverage situation," he adds. The analyst believes, however, that the story is "not really about liquidity, it's about a deterioration in run rate fundamentals." On that front. Tusa expects the "anchor" on earnings, free cash flow and the dividend to all be down ~85% as "the dust continues to settle. He keeps an Underweight rating on General Electric shares.
11/13/18
GDHS
11/13/18
NO CHANGE
Target $10
GDHS
Underperform
General Electric liquidity risks could be escalating, says Gordon Haskett
Gordon Haskett analyst John Inch said that despite GE's assurances and those of other analysts that liquidity does not pose a risk, he believes liquidity issues could be escalating given the rapidly raising spreads in GE CDS, which he tells investors "could portend additional GE credit rating downgrades." GE's CEO asserted in interview yesterday that the company has no plans for an equity capital raise, but added "as conditions change in the future we might come back and reconsider that," noted Inch, who thinks that at current GE share price levels the "window to raise equity capital appears to have largely shut." Inch maintains an Underperform rating and $10 price target on GE shares.

TODAY'S FREE FLY STORIES

LLY

Eli Lilly

$115.20

-1.23 (-1.06%)

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06:34
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NGD

New Gold

$0.86

-0.0141 (-1.61%)

06:34
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Conference/Events
New Gold management to meet with TD Securities »

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UBER

Uber

$0.00

(0.00%)

, LYFT

Lyft

$58.31

-1.11 (-1.87%)

06:32
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UBER

Uber

$0.00

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LYFT

Lyft

$58.31

-1.11 (-1.87%)

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ONB

Old National Bancorp

$16.85

-0.28 (-1.63%)

06:32
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06:32
Earnings
Old National Bancorp reports Q1 adjusted EPS 33c, consensus 31c »

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OKE

Oneok

$69.13

-0.59 (-0.85%)

06:30
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06:30
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CYAD

Celyad

$21.48

(0.00%)

06:29
04/22/19
04/22
06:29
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06:29
Conference/Events
Celyad management to meet with »

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JPM

JPMorgan

$113.43

-0.86 (-0.75%)

, BTC

Bitcoin

$0.00

(0.00%)

06:26
04/22/19
04/22
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06:26
Periodicals
JPMorgan to expand use of blockchain system to validate payments, FT says »

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JPM

JPMorgan

$113.43

-0.86 (-0.75%)

BTC

Bitcoin

$0.00

(0.00%)

BITCOIN

Bitcoin

$0.00

(0.00%)

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OKE

Oneok

$69.13

-0.59 (-0.85%)

06:26
04/22/19
04/22
06:26
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06:26
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Oneok rating change  »

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DTIL

Precision BioSciences

$12.15

-0.84 (-6.47%)

06:23
04/22/19
04/22
06:23
04/22/19
06:23
Initiation
Precision BioSciences initiated  »

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APC

Anadarko

$64.18

0.16 (0.25%)

, CVX

Chevron

$119.87

-0.38 (-0.32%)

06:20
04/22/19
04/22
06:20
04/22/19
06:20
Downgrade
Anadarko, Chevron rating change  »

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APC

Anadarko

$64.18

0.16 (0.25%)

CVX

Chevron

$119.87

-0.38 (-0.32%)

03/08/13
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RTRX

Retrophin

$20.07

-0.13 (-0.64%)

06:18
04/22/19
04/22
06:18
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06:18
Initiation
Retrophin initiated  »

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MU

Micron

$43.42

0.26 (0.60%)

06:18
04/22/19
04/22
06:18
04/22/19
06:18
Conference/Events
Micron management to meet with JPMorgan »

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DTIL

Precision BioSciences

$12.15

-0.84 (-6.47%)

06:18
04/22/19
04/22
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Initiation
Precision BioSciences initiated  »

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WTRE

Watford Holdings

$28.24

0.5 (1.80%)

06:17
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Initiation
Watford Holdings initiated  »

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RCII

Rent-A-Center

$21.35

0.07 (0.33%)

06:15
04/22/19
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06:15
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06:15
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Rent-A-Center rating change  »

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ENGIY

Engie SA

$0.00

(0.00%)

, EME

Emcor

$79.55

2.64 (3.43%)

06:15
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Periodicals
France's Engie mulls takeover of Emcor, Bloomberg reports »

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ENGIY

Engie SA

$0.00

(0.00%)

EME

Emcor

$79.55

2.64 (3.43%)

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CAL

Caleres

$27.55

0.425 (1.57%)

06:14
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06:14
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DOV

Dover

$97.93

1.12 (1.16%)

06:14
04/22/19
04/22
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06:14
Downgrade
Dover rating change  »

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TEVA

Teva

$14.36

0.14 (0.98%)

06:13
04/22/19
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06:13
Hot Stocks
Teva receives FDA approval to market generic nasal spray for opioid overdoses »

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RCI

Rogers Communications

$51.39

-1.76 (-3.31%)

06:13
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06:13
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Rogers Communications rating change  »

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TEVA

Teva

$14.36

0.14 (0.98%)

06:10
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CAL

Caleres

$27.55

0.425 (1.57%)

06:09
04/22/19
04/22
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Caleres rating change  »

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TBK

Triumph Bancorp

$29.38

-1.37 (-4.46%)

06:08
04/22/19
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06:08
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OKE

Oneok

06:08
04/22/19
04/22
06:08
04/22/19
06:08
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MANH

Manhattan Associates

$57.31

0.18 (0.32%)

06:07
04/22/19
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06:07
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06:07
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Manhattan Associates rating change  »

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